Singapore leads Asian peers in attracting foreign investments: Report
SINGAPORE – Singapore is the most attractive country in the region for foreign investments, but it falls behind some advanced economies in terms of environmentally friendly and socially inclusive growth, according to a new index. The Milken Institute’s Global Opportunity Index ranked Singapore first among its Asian neighbours in 2023, and 14th among the 130 countries studied globally – up four places from 2022. Hong Kong at 15th and Japan at one spot below were the other two Asian economies in the top 20 globally. Denmark came in first globally, with Sweden dropping to second, followed by Finland in third. The United States moved up one spot to fourth. Dr Maggie Switek, the Milken Institute’s senior director and the report’s lead author, told The Straits Times that Singapore’s climb up the league table was due to relatively strong economic growth. Its high position was also driven mainly by its strength in “business perception”, which measures the ease of doing business and the regulatory framework facilitating contract enforcement and dispute resolution. It also fared well in the “institutional framework” category, which assesses the extent to which a country’s institutions safeguard the rights of investors and the safety of their assets. The country led the way in the subcategories of investor rights and transparency. “It means that overall investment conditions remain strong, which is also reflected in Singapore’s capital inflows. The strength of investor rights coupled with its relatively low business constraints mean that investors should feel comfortable operating in Singapore,” Dr Switek said. Foreign direct investment (FDI) inflows to Singapore reached a record high of US$141.2 billion (S$189 billion) in 2022, up from US$131.1 billion in 2021, noted a United Nations report. This made the country the third-largest FDI recipient worldwide after the US and China. Singapore also accounted for almost two-thirds of flows to Asean countries. “However, the country could do better on its indicators related to environmentally friendly and socially inclusive growth, which are reflected in its relatively low ranking in ‘future environment for growth’,” said Dr Switek. Singapore scored below the average of advanced economies in the “economic fundamentals” category, which captured macroeconomic performance, workforce talent and efforts to create a resilient and sustainable economy and society. This was largely due to its relatively weak performance in the “future environment for growth” sub-category, which includes measures such as air pollution and the proportion of women in government. Dr Switek said Singapore also ranked below some of its regional competitors such as Japan and South Korea in this area. The Milken index is based on 100 indicators classified into five categories – business perception; economic fundamentals; financial services; institutional framework; and international standards and policy. The variables within the five categories measure all angles of a country’s investment potential, including economic openness and performance, business constraints and workforce talent and diversity. Data sources include the World Bank, the International Monetary Fund and the United Nations. Malaysia offered the best investment conditions among emerging and developing Asian economies. It ranked 27th globally, ahead of Thailand at 37th and 39th-placed China, which lost some appeal to investors due to rising geopolitical tensions with the US. The report noted a continued shift in investor sentiment in favour of Latin American countries as capital inflows to China turned negative in 2022 for the first time since 2015. Since then, Latin America has experienced a surge in investment inflows, with Mexico and Brazil jointly accounting for more than 60 per cent of foreign direct investment in the region. However, it noted a strong momentum behind China’s innovation economy that could rival the US and other advanced economies. The mainland surpassed the US in the annual number of scientific publications for the first time in 2019, and since then the gap has widened, it said.
Sarawak Gas Roadmap
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Dr Sim: Govt studying proposal to build railway linking Bintulu Port to Nusantara
KUCHING (March 24): The government is studying a proposal to build a railway linking Bintulu Port to the new capital of Indonesia, Nusantara, said Deputy Premier Datuk Amar Dr Sim Kui Hian. He said Bintulu Port’s strategic location in Borneo could facilitate the movement of goods from Sarawak to Indonesia using a shorter travel distance compared to shipping routes. “Can you imagine if the port does not belong to us (the state government) and we want to potentially build a railway line all the way to the new capital of Indonesia?” he said during an event distributing grants to 45 non-governmental organisations (NGO) at Sarawak United Peoples’ Party (SUPP) headquarters here today. Noting that the distance between Bintulu Port and Nusantara is only a few hundred kilometres, Dr Sim said a high-speed rail from China could cover the distance within three hours compared to ships which would take around two days. On Friday, a Memorandum of Understanding (MoU) was signed between federal Transport Minister Anthony Loke and state Deputy Premier Datuk Amar Douglas Uggah Embas to the facilitate the change of status of Bintulu Port from being a federal port to a state port by this year. The MoU signing, which was witnessed by Prime Minister Datuk Seri Anwar Ibrahim and Sarawak Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg, will also see the entire operation of Bintulu Port handed over to the Sarawak government by 2025. On another note, Dr Sim remarked that Sarawak has entered into a phase of nation building and the state government led by Abang Johari has taken the initiatives to take over Bintulu Port, MASwings and acquiring significant stakes in Affin Bank. He said the state government will also be providing free tertiary education at state-owned universities to about 20,000 Sarawakian students a year starting 2026 with a cost of about RM30,000 per year for each student. The deputy premier further highlighted that Sarawak aspires to achieve a gross domestic product (GDP) of RM282 billion in the next six years and the state has been counted as the fifth largest producer of gas in the world. Dr Sim also pointed out Sarawak is fast approaching towards an ageing society with the lowest birthrate in the country.
InvestSarawak, Toyo ink MoU to advance state govt’s energy transition agenda
KUCHING (April 22): InvestSarawak and Toyo Engineering Corporation, along with its subsidiary Toyo Engineering & Construction Sdn Bhd, signed a Memorandum of Understanding (MoU) today in a move to advance the Sarawak government’s energy transition agenda. This strategic collaboration aims to help Toyo explore and facilitate potential investment projects in Sarawak in alignment with the company’s energy transition strategies, according to a press release. The MoU outlined the commitment of both parties in establishing a cooperative framework that will foster collaboration on potential energy projects critical to the state government’s energy transition initiatives. Toyo expressed its readiness to assist in the development of value chain planning services essential for realising these initiatives. Such initiatives include developing green hydrogen projects, carbon capture and storage (CCS), waste-to-energy projects that convert organic waste materials into energy, energy storage solutions such as battery storage or pumped hydro storage, and smart grid technology to enhance the efficiency and reliability of the electrical grid. InvestSarawak chief executive officer Timothy Ong said the partnership with Toyo is a testament to Sarawak’s commitment to embracing clean and sustainable energy sources that will propel the state’s economic and social development forward. “This collaboration will leverage Toyo’s global insights and technological advancements to enhance our local capabilities,” he said. Toyo Engineering Corporation senior executive officer and unit director of the Business Development and Marketing Unit Casey Takeshi Matsumuro said: “We are honoured to support Sarawak’s ambitious energy goals. “This collaboration allows us to bring our expertise and technology to the forefront of Sarawak’s energy landscape, aligning with our mission to contribute to sustainable growth globally.” Under the purview of the Ministry of International Trade, Industry and Investment, InvestSarawak serves as the one stop centre dedicated to attracting investments that align with Sarawak’s vision for 2030 for sustainability and growth. Toyo, with its track record and expertise in engineering, procurement, construction, and technical services across various sectors, including oil and gas, petrochemicals, and renewable energy, brings its global experience and innovative technologies to this partnership. With 87 ammonia plants and over 48 ammonia storage tanks globally, the corporation is positioned to contribute significantly towards sustainable energy solutions in Sarawak. The partnership is expected to not only support the transition to renewable energy in Sarawak but also stimulate local employment and technological development, marking a significant milestone in the region’s economic landscape.
Deputy Premier in Sweden to explore sustainable forestry collaboration
By DayakDaily Team KUCHING, April 28: Deputy Premier of Sarawak Datuk Amar Awang Tengah Ali Hasan had a networking session with Business Sweden, an agency that promotes Swedish companies’ global growth and foreign direct investors’ expansion in Sweden.Awang Tengah was in Stockholm for a two-day working visit to promote Sarawak as an investment destination for Swedish investors, as well as to explore opportunities for collaboration in forest management, plantation, and technology to process planted timber species. According to a press release, the Deputy Premier was briefed by Swedish Forest Agencies, Swedish Wood Building Council, Ecco Innovation Foundation, and Billerud on topics such as the development of forest industries in Sweden, the use of engineered wood to construct timber structures, Ecco Innovation Foundation collaboration with other countries in Southeast Asia, and the pulp and paper industry.The industry has a structured mission to achieve a circular bio-based society for Sweden. During the same session, Paul Valentine, General Manager of Sarawak Planted Forest Sdn Bhd, provided an overview of the development status of planted forests in Sarawak, as well as opportunities for future collaborations and investments in digital technology, mechanisation for planted forest harvesting, and the production of high value-added products such as pulp, paper, engineered wood, and biomass fuel for the Swedish business communities. The Deputy Premier invited the Swedish business community to consider investing in Sarawak’s forestry, forest plantation, and wood-related industries. He pointed out that Sarawak is transitioning to a sustainable and renewable wood-based industry that uses material from forest plantations to produce engineered wood, biomass fuels, pulp, and paper.Sarawak also a geographic advantage because it is close to large markets with high growth rates, such as China, Japan, India, South Korea and Australia. Meanwhile, Business Sweden sees potential opportunities in Sarawak for research and innovation, digital forest management applications, forest industries for wood structure construction, and human capital development, according to the press release. Business Sweden, in collaboration with industries and agencies, will continue to engage in dialogues with Sarawak to identify areas of mutual interest that can be considered and implemented in the future. Also present during the working visit were Swedish Ambassador to Malaysia Dr Joachim Bengstrom; Deputy Minister for Urban Planning, Land Administration, and Natural Resources, Datuk Len Talif Salleh; Advisor to the Ministry of International Trade, Industry, and Investment (MINTRED), Dato Sri Mohd Naroden; Director of Forests, Datu Hamden Mohammad; Permanent Secretary of MINTRED, Dzulkornain Masron; General Manager of Sarawak Timber Industry Development Corporation (STIDC), Zainal Abidin Abdullah; Advisor to STIDC, Datu Hashim Bojet; CEO of Invest Sarawak Timothy Ong; and CEO of PUSAKA Capital Sdn Bhd, Mohd Nor Topek Julaihi. – DayakDaily
Swedish businesses invited to venture into Sarawak’s forest plantation and wood-based industries
KUCHING, April 29 — Deputy Premier Datuk Amar Awang Tengah Ali Hasan recently held a networking session with Business Sweden, an agency promoting Swedish companies to grow in the global market and for foreign direct investors to expand business in Sweden. Awang Tengah extended an invitation to the Swedish business community to venture into Sarawak’s forestry, forest plantation and wood-based industries. He pointed out that Sarawak is moving towards a sustainable and renewable wood-based industry utilising material from forest plantations to produce engineered wood, biomass fuels, pulp and paper. “Sarawak has a geographical advantage as it is located near to large market with high growth rate such as China, Japan, India, Korea and Australia,” he said in a press release issued by his office. Awang Tengah, who is also Minister of International Trade, Industry and Investment, had led a Sarawak delegation on a two-day working visit to Sweden which began last Thursday. According to the press release, Business Sweden sees potential opportunities to consider in Sarawak in areas like research and innovation, digital application in forest management, forest industries for wood structure constructions, and human capital development. It said Business Sweden in collaboration with the industries and agencies will continue to engage in dialogues with Sarawak to identify areas of common interest to be considered and implemented in the future. Meanwhile, Awang Tengah at the meeting was briefed by the Swedish Forest Agency, Swedish Wood Building Council, Ecco Innovation Foundation, and Swedish pulp and paper manufacturer Billerud on matters pertaining to the development of forest industries in Sweden. The Deputy Premier and the Sarawak delegation were told about the use of engineered wood to construct timber structures, collaboration by Ecco Innovation Foundation in other countries in Southeast Asia, and pulp and paper industry. At the same session, Sarawak Planted Forest Sdn Bhd general manager Paul Valentine gave a briefing on the overview development status of planted forest in Sarawak and opportunities for future collaborations and investments for the Swedish business communities. These opportunities are in digital technology, mechanisation for planted forest harvesting, and production of high value-added products such as pulp, paper, engineered wood and biomass fuel, said the release. — The Borneo Post
Sarawak estimated to possess high value mineral resources worth RM1.252 trillion
KUCHING, May 14: Sarawak is estimated to possess high value mineral resources for the energy industry and downstream manufacturing industry worth more than RM1.252 trillion. Natural Resources and Urban Development II Minister Datuk Amar Awang Tengah Ali Hasan said the estimated value is based on the records of Sarawak’s Department of Minerals and Geosciences Malaysia. These mineral resources are deposited across an area of approximately 39,824 square kilometers or 3,982,400 hectares, which involves 32 per cent of the area of Sarawak. The Sarawak government has thus requested for a larger allocation for Department of Minerals and Geosciences Malaysia, Sarawak from the Federal government so that the study on the existence of mineral resources in Sarawak can be carried out more extensively. “This geological study and mapping is very important to enable land use planning and the development of mineral-based industries to be made in detail and comprehensively by the government,” said Awang Tengah when delivery his ministerial winding-up speech in the Sarawak Legislative Assembly (DUS) here today. He said in the development of mineral-based industries, the Sarawak government is currently trying to develop downstream industries especially those based on silica sand for the manufacturing of photovoltaic glass (PV glass) which is essential for solar power generation (green energy) and limestone for the clinker and cement industry. “In addition, the government is also studying the potential of an industry based on high-value strategic minerals, namely Non-Radioactive Rare Earth Elements (NR-REE). “NR-REE is needed in various manufacturing industries such as magnetics, phosphorus, ceramics, metal alloys, defence and so on,” said the Bukit Sari assemblyman (GPS-PBB). — DayakDaily
Premier: Sarawak to replace coal with biomass at Sejingkat, Balingian power plants
KUCHING (April 28): Sarawak plans to replace the use of coal at the Sejingkat and Balingian power plants with biomass, in line with the state’s efforts to develop clean and sustainable energy, says Datuk Patinggi Tan Sri Abang Johari Tun Openg. Speaking to reporters after gracing the national-level World Water Day celebration at Kuching Waterfront today, the Sarawak Premier said doing so would not only reduce carbon emission but also provide economic benefits. He cited the Drax facility in the United Kingdom, which he visited recently during an official trip to the UK, as an example of a power plant successfully transitioning from coal to biomass as a source of energy. “At Drax, they previously used coal but have now replaced it with biomass. The investment (to change) is not high because the system is very similar. “This is what we want to use for Sejinkat and Balingian. We want to decommission coal. I have calculated that we can use our biomass to generate power,” he said. Abang Johari explained that switching from coal to wood waste could generate power exceeding 500 megawatts. “Now we only need to strengthen the boiler and also from the point of view of the motor machine, and this will enable Sejingkat (plant) to generate even up to one gigawatt,” he said. Touching on his visit to the Drax power station, the Premier said the insight he gained has provided him a valuable framework in further developing the state’s renewable energy sector, adding he will discuss this with state utility company Sarawak Energy Berhad. He also expressed happiness that the European community has recognised Sarawak’s role in addressing climate change. “We will share the technology we have in renewable energy production including biomass,” he said. Separately, Abang Johari said the implementation of cascading dams in the hinterland will be carried out elsewhere if the local population objected to it. “If they disagree, the government will move (the project) to another area. If they feel suspicious, we will go to another place where the people want (the project to be implemented). “Now we are implementing the project near Sungai Kanowit and Song. In Kapit, they want this cascading source, and we have a new technology that I mentioned as a tank elevator. “This depends on the theory of gravity, which means that the flow of water can generate energy,” he said. Also present at the event were Deputy Prime Minister Datuk Seri Fadillah Yusof, Deputy Premier Datuk Amar Dr Sim Kui Hian, State Secretary Datuk Amar Mohamad Abu Bakar Marzuki, Minister of Utility and Telecommunication Datuk Sri Julaihi Narawi and his deputy minister Datuk Liwan Lagang, and Fadillah’s deputy minister Akmal Nasrullah Mohd Nasir.
Sarawak Skills sending teaching staff for hydrogen-tech training in China
KUCHING (April 30): Sarawak Skills Group of Learning Institutions (Sarawak Skills) has announced a series of staff talent development initiatives to support the Sarawak Post Covid-19 Development Strategy (PCDS) 2030 and the Sarawak government’s ongoing initiatives in carbon reduction emission. According to Sarawak Skills executive director Hallman Sabri, 10 teaching personnel from its three institutions are undergoing hydrogen technology training in China. The staff members are from the Automotive and Welding Institute of Sarawak (Awisar), i-CATS University College and Sarawak Skills Kuching. “The training is being held over a period of two weeks (April 21-May 7) at Foshan Polytechnic and Foshan Feichi Motor Technology Co Ltd in Foshan, Guangdong Province, China,” he said in a statement. Hallman, also the Federation of Malaysian Skills Development Centres (FMSDC) chairman, added: “FMSDC has a long-established relationship with HWK Aachen, Germany to enhance the competencies of trainers from the various skills development centres under the umbrella of FMSDC.” In this respect, he said 15 trainers including three from Sarawak Skills would be in Germany for the Train-The-Trainer (TTT) Meister Mechatronic Programme, to be running from June 8 to 22. “Indeed, for Sarawak Skills, these staff talent development initiatives will go a long way towards supporting the noble course of human capital development for the betterment of current and future generations of the workforce in line with the PCDS 2030,” added Hallman. For more information about Sarawak Skills, go to sarawakskills.edu.my or its social media platforms (a@Sarawak Skills on Facebook, and @sarawakskillsofficial on Instagram).
Sarawak considering to build new international airport in Kuching, says Premier
KUCHING (May 15): Sarawak plans to develop a new international airport in Kuching to support the growth of the aviation industry in the state, says Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg. According to him, the construction of an international airport is necessary considering Sarawak’s air traffic is increasing and the insufficient facilities at the existing Kuching International Airport (KIA). “We are studying plans to build a new international airport due to the increase in our (air) traffic. “We are also looking at the international airport building now, I think there are not enough facilities with the increase in the number of flights and passenger traffic,” he told reporters at the lobby of the State Legislative Assembly (DUN) Complex here today. He was asked after he said during his winding-up speech that the Sarawak government planned to develop a new international airport following the acquisition of MASwings. The effort, he said, will make Sarawak another regional aviation hub for Asean. Commenting further on the matter, Abang Johari said it was time for Sarawak to have a new international airport because the existing KIA has exceeded its capacity to handle more traffic. “We will inform you about the location later. What is certain is that it will be developed in Kuching, because the international airport has to be in Kuching because we want it to be an aviation hub. “We already have a hub for ports, this time we need a hub for flights. It’s not only for passengers but for cargo, meaning it works as a commercial hub,” he explained. Regarding the funds to build the new Kuching international airport, Abang Johari said the matter would be discussed with Malaysia Airports Holdings Berhad (MAHB). “Whether MAHB will be our partner to develop this airport depends on the availability of funds. “Perhaps we will develop together with MAB to build this new international airport,” he said. When asked on what will happen to the existing KIA, Abang Johari said it could be turned into an airport for chartered jets or private planes. “Of course the question is that the current KIA is sufficient or not in terms of capacity… so we need a new international airport, only after that we will see what can be done on the existing KIA,” he said.
