KUCHING (Oct 27): The strong government-to-government (G2G) relationship between Malaysia and Kazakhstan should pave the way for a better and stronger cooperation among the private sector in the two countries.
Deputy Premier Datuk Amar Awang Tengah Ali Hasan said this is in view of the many opportunities which can be tapped through business-to-business (B2B) relationship.
“Kazakhstan is very rich in terms of natural resources and they are developing very fast not only in their economy but in their infrastructure development also. Opportunities are there for our business people.
“The most important thing is that they must know what the opportunities are that can be tapped,” he told a press conference after launching the Kazakhstan Business Opportunities Forum at a leading hotel here yesterday.
Awang Tengah, who is Second Minister of Natural Resources and Urban Development and Minister of International Trade, Industry and Investment, said that a few Sarawakian companies had started investing in Kazakhstan, especially in property development as well as small-scale export of timber products, construction materials and furniture.
“In the services sector too, there are a lot of opportunities. The tourism industry is really booming and the halal food is very big market, it is a huge potential and we can penetrate into their market and Central Asia.
“These are the things that we must look into and tap all the opportunities. It is a matter of how to bring the private sector together and this forum is a platform for them to understand what are the opportunities available,” he said.
On whether there is any plan to set up a trade office there similar to Sarawak Trade and Tourism Office Singapore (Statos), he said the Malaysian embassy is already there.
“At least for the beginning, we can make use of our embassy office there,” he said.
Earlier in his speech, Awang Tengah informed that Sarawak has remained as one of the most preferred investment destinations for manufacturing projects in Malaysia, having recorded approved investments worth RM23.17 billion in 2020 and 2021.
He also said the state’s oil and gas, timber, palm oil and shipbuilding industries were growing.
“We welcome more downstream value-adding activities in the manufacturing sector. I hope the business communities from both Sarawak and Kazakhstan can look into developing the downstream oil and gas industries.
“We can also look at our Halal industry as one important segment that has potential for dynamic growth in both countries. I understand that the recognition of Kazakhstan Halal standards by Malaysian authorities is being implemented,” he said.
Noting that Kazakhstan is currently exploring hydro technology in their effort towards sustainable energy, Awang Tengah pointed out this opens up potential opportunities for locals to participate in the country’s move towards sustainable energy growth.
“Their central focus is similar to our state’s objective, which is to increase GDP growth while promoting sustainable renewable energy and optimising digitalisation growth. Therefore, there are venture opportunities for our local digital and energy based companies such as Sarawak Energy (SEB) and local entrepreneurs,” he said.
Also present were Ambassador of Kazakhstan to Malaysia Bulat Sugurbayev, Honorary Consul of Kazakhstan in Sarawak Datuk Awang Daud Awang Putera, Ministry of International Trade, Industry and Investment advisor Datuk Mohd Naroden Majais and others.
Source: https://www.theborneopost.com/2022/10/27/deputy-premier-urges-private-sector-to-tap-business-opportunities-in-kazakhstan/