This is a key factor, as the high price of fossil fuels and the introduction of carbon taxes mean that many corporations, especially those in energy-intensive industries, are being forced to look beyond their home countries for manufacturing locations with access to clean energy.
The combination of affordable, clean power and an increasingly educated and sophisticated workforce is making Sarawak an attractive proposition for these international companies.
The state government has ambitious and detailed plans to build on this demand and is fast-tracking the development of heavy industries, ICT and service providers that can offer value to manufacturers of high tech components.
By making land, incentives and tax breaks available for new investment projects, it is encouraging overseas companies to share in Sarawak’s race towards a competitive and prosperous future.
A major challenge for the state is the need to create high-income jobs that will inspire ambitious Sarawakians to stay and participate in this vision.
This is not something that can be done directly by government, but the enthusiastic response from potential investors is already demonstrating the effectiveness of the incentives and business-friendly policies that Sarawak has introduced in the last few years.