Sarawak-China trade at rm18.91b
Published on: Wednesday, April 24, 2019
KUCHING: Trade between Sarawak and China rose by16.8 per cent to RM18.91 billion last year, with exports from the state recording RM12.07 billion, and imports at RM6.8 billion.
Sarawak’s major exports to China were Liquefied Natural Gas (LNG), vegetable oils, electrical machinery, and apparatus. The imports were chemical products, coke, lignite, carbon, aluminium ore, base metals, and other commodities.
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Deputy Chief Minister Datuk Amar Awang Tengah Ali Hasan said Sarawak had a sound and stable government which was business friendly and protected the interest of investors.
“Recent investments from China include a RM1.05 billion silicon manganese plant by Pertama Ferroalloy (Hong Kong), RM2.18 billion integrated solar manufacturing plant by LONGi Technology and the RM17 billion high-grade steel plant by WenAn Steel.
“The latest Foreign Direct Investment to come is Dongjin Semichem from South Korea, investing US$133 million for producing foaming agent used widely in household products, electronics and automotive sectors,” he said.
Awang Tengah, who is also the Minister of Industrial and Entrepreneur Development and Second Minister of Urban Development and Natural Resources, said this in his keynote address at the Economic Workshop and Policy briefing on cooperation between China and Sarawak here on Tuesday.
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Also present were the Consul General of the People’s Republic of China in Kuching, Cheng Guangzhong, Assistant Minister of Entrepreneur and Small and Medium Enterprise Development, Datuk Mohd Naroden Majais and Assistant Minister for Industrial Development, Malcolm Mussen Lamoh.
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He added that Sarawak offered many comparative advantages and remained among the top preferred investment destinations in Malaysia and had consistently ranked among the top three for the past five years. – Bernama
