Malaysia's Sarawak State To Woo Investors At WIEF 2017

KUALA LUMPUR, July 25 (Bernama) -- Sarawak aims to leverage on its hosting of the 13th World Islamic Economic Forum (WIEF) from Nov 21-23 this year to woo investors to various projects in the state. Third Deputy Chief Minister, Awang Tengah Ali Hasan, said the state is currently undertaking a rural transformation programme. Sarawak has lined up various plans to improve its economy via the telecommunications, agriculture, halal industry, tourism, steel, timber, and oil and gas industries. "The state government has allocated US$233.48 million (RM1 billion) to improve the telecommunications infrastructure and 77,000 hectares of land for the development of a halal hub," he told a media briefing on the WIEF here, Monday. He said the three-day forum would be a golden opportunity to promote these projects and attract both foreign and domestic direct investments. Awang Tengah said though Sarawak is a prominent player in the country’s oil and gas, and timber industries, the state government is planning to enhance both with more downstream activities. “We are planning to make Bintulu the regional hub for the petrochemicals sector,” he added. On the timber industry, he said the state government desires to grow the state’s furniture industry, which is considered small, when compared to its counterpart in the Peninsular. “Six of the major players in the timber industry come from Sarawak, but our furniture industry is very small in comparison to that of the Peninsular. So, we want to enhance it,” he added. Themed, “Disruptive Change: Impact and Challenges”, the WIEF 2017 is expected to attract 2,000 participants comprising heads of state, captains of industries, and businessmen. We expect a balanced participation between local and foreigners at the forum, said Foundation Chairman, Tun Musa Hitam. He said as host, Sarawak would be given an opportunity to promote itself at the forum. Since its debut in Kuala Lumpur in 2005, the WIEF has steadfastly pushed for inclusive, sustainable and ethical growth. The international forum serves as the platform to promote regional cooperation, drive businesses and positively impact communities. -- BERNAMA