KUCHING: The government continues to offer various incentives to attract investments in advanced technology including in Sarawak.

Among the incentives include the Pioneer Status and Investment Tax Allowance for promoted industry.

Sarawak Deputy Minister for International Trade, Industry and Investment, Datuk Dr. Malcolm Mussen Lamoh said investors who are offered with Pioneer Status will enjoy income tax exemption ranging from 70 per cent to 100 per cent for a period of ten years.

“Meanwhile, investors offered with the Investment Tax Allowance will enjoy 60 per cent to 100 per cent tax exemption on qualifying capital expenditure incurred within five years,” he said in response to a question from Kota Sentosa Assemblyman, Wilfred Yap Yau Sin during the 19th Sarawak Legislative Assembly Sitting on Thursday.

At the same time, Datuk Dr. Malcolm said the Sarawak government also offers competitive land, power, and water tariffs.

For investment in advanced technology and green circular economy, he explained that the government will offer two specific incentives.

One of the incentives is the Green Investment Tax Allowance (GITA) on CAPEX undertaking qualifying green technology projects.

“The second incentive is the Green Income Tax Exemption (GITE) for qualifying green technology service providers listed under the MyHIJAU Directory,” he said. -UKASnews