Sarawak attracted new investments worth RM8.17bil last year, almost double the combined new investments for the more developed states of Penang and Selangor.

State Industrial Development Minister Datuk Amar Awang Tengah Ali Hasan said on Wednesday the Malaysian Investment Development Authority (MIDA) 2011 report showed RM4.48bil in new investments for Penang and RM4.38bil for Selangor.

Awang Tengah added that Sarawak’s political stability had created a good investment climate and raised the confidence of big international companies to begin operations in the state, with the presence of SCORE (Sarawak Corridor for Renewable Energy) playing a vital role in pulling in more investment.

SCORE has attracted nearly RM30bil in investments since its launch four years ago and provides opportunities for local SMEs in support industries, he said.

Edited by Sarawak Bloggers News Tribune team