NANJING – Sarawak is poised to attract investments worth USD7 billion (RM20 billion) over the next decade, strengthening its position as a regional leader in the green economy.
The projection follows the signing of seven Memorandums of Understanding (MoUs) between Petroleum Sarawak Berhad (PETROS), China Jiangsu International Economic and Technical Cooperation Group Ltd. (CJI) and seven major Chinese companies.
The agreements, witnessed by Sarawak Premier Datuk Patinggi Tan Sri (Dr) Abang Abdul Rahman Zohari Tun Datuk Abang Openg, mark a decisive step in the development of the Kuching Low Carbon Hub (KLCH).
The Premier explained that the interest shown by international partners reflects confidence in KLCH’s potential as a globally connected low-carbon industrial hub.
“Over the next 10 years, it is projected to bring in potential investments worth USD7 billion, equivalent to approximately RM20 billion. Investments of this magnitude will create many new job opportunities, especially highly skilled jobs, in line with our efforts to increase household income,” he said at a press conference.
The agreements were signed at CJI Headquarters in Nanjing, alongside a framework agreement between PETROS and CJI. The Premier added that the investment will contribute significantly to Sarawak’s economic growth, with a Gross Domestic Product (GDP) target of RM282 billion by 2030.
Beyond financial investment, the collaboration also focuses on human capital development, including knowledge transfer, technical training and industrial placements for Sarawak students. The Premier noted that Jiangsu province’s diverse technical expertise offers opportunities for educational partnerships.
“Maybe in the third year of study, they can be sent here as industrial trainees. When these industries operate in Sarawak, they will absorb these students as technical workers. This brings many benefits to Sarawak,” he said.
The MoUs involve seven key entities: Jiangsu Unicorn and Gazelle Enterprise Alliance, CUCDE Environmental Technology Co., Ltd., Nanjing TOUA Hardware & Tools Co., Ltd., Nanjing Wondux Environmental Protection Technology Corp., Ltd., Jiangsu Ankura Smart Power Station Technology Co., Ltd., ASEAN Jiangsu Chambers of Commerce Alliance (AJCCA), and Jiangsu Complete Equipment Co., Ltd..
These companies will contribute expertise in environmental technology, advanced manufacturing, smart infrastructure and trade facilitation.
The Premier also highlighted Sarawak’s natural strengths, including abundant natural gas and water resources, which underpin the state’s industrial expansion.
He pointed to the development of a new industrial hub in Tanjung Embang, featuring a deep-sea port and gas terminal, as a cornerstone of Sarawak’s low-carbon ambitions. The area also holds potential for carbon storage, further enhancing Sarawak’s attractiveness to investors.
“With the accumulation of resources from PETROS and expertise from Jiangsu, Tanjung Embang will be a very significant industrial low-carbon park not only in Malaysia but in ASEAN,” he said.
The event was attended by Datuk Ibrahim Baki, Sarawak Deputy Minister of Utilities (Sarawak Energy Berhad and PETROS), Tan Sri Datuk Amar (Dr) Hamid Bugo, PETROS Chairman, Song Qinbo, CJI Chairman, Dato Janin Girie, PETROS Group CEO, and Zhu Xingbao, CJI President.
The signing of these MoUs signals Sarawak’s determination to build a sustainable, innovation-driven industrial landscape, reinforcing its role as a green economy leader in Southeast Asia.
