KUCHING: Sarawak recorded RM22.8 billion of approved investments in services, manufacturing, and primary sectors in 2023.

Sarawak Deputy Premier, Datuk Amar Awang Tengah Ali Hasan stated that out of this total, Domestic Direct Investment (DDI) was the main contributor with 65.8 per cent or RM15 billion.

"Foreign Direct Investment (FDI) contributed 34.2 per cent or RM7.8 billion involving 339 projects and potentially creating 4,500 jobs.

"In addition, the manufacturing sector contributed the highest of investment at 40.3 per cent or RM9.2 billion of the total approved investments.

"This was followed by the services sector at 38.6 percent or RM8.8 billion and the primary sectors at 21.1 percent or RM4.8 billion," he explained.

He said this during his ministerial winding-up speech at the 19th Sarawak State Legislative Assembly (DUN) Session on Wednesday.

The Minister for International Trade, Industry and Investment (MINTRED) stated that in 2023, the manufacturing sector contributed 27.7 per cent to Sarawak's Gross Domestic Product (GDP), creating 4,200 employment opportunities.

He added that the approved investments were mainly in electrical and electronics (E&E) products totalling RM3.4 billion, RM2.6 billion for basic metals, and RM1.3 billion in chemical products.

"For the first quarter of 2024, the manufacturing sector recorded investments worth RM2.4 billion for 30 projects.

"These investments are expected to create over 2,000 employment opportunities, mainly in chemical products generating RM1.7 billion, basic metal products totalling RM436 million, and non-metallic mineral products amounting to RM143 million," he said. -UKASnews