KUALA LUMPUR: United Overseas Bank (M) Bhd (UOB Malaysia) is set to facilitate more foreign direct investments (FDI) into Sarawak as international companies look for opportunities in the state’s high-value sectors.
The bank expects more multinational corporates, especially those from the manufacturing, trade, technology, food and agriculture industries, to invest in Sarawak’s renewable energy, digital technology, ecotourism and agrotechnology sectors, it said in a statement.
To help connect its clients to business opportunities in Sarawak, UOB Malaysia partnered Sarawak Trade and Tourism Office Singapore (STATOS) and Singapore Business Federation (SBF) to organise an investment and trade mission to the state.,
Chief executive officer Ng Wei Wei said Sarawak is among Malaysia’s top five investment destinations.
“The Sarawak government’s commitment to create an ideal climate for investment through business-friendly policies and initiatives makes the state an attractive investment destination for local and foreign investors.
“The state’s natural resources and renewable energy is also a big draw to investors. In addition, we anticipate Malaysia’s entry into the Regional Comprehensive Economic Partnership (RCEP) will open more doors of opportunities for companies, to invest and trade with businesses inSarawak.
“Moving forward, we will continue to work with the state government to support the premier’s vision in prioritising green energy development to attract foreign investors who want to advance their business sustainably,” she said.