As part of a working visit to China in May 2024, Deputy Premier YB Datuk Amar Haji Awang Tengah Ali Hasan witnessed the signing of a Memorandum of Understanding (MoU) between Sarawak’s Pusaka Timber Industries Sdn Bhd, and China’s G-COVE Technologies Co Ltd and Sichuan Vanov New Materials Co Ltd.
A press release from the Ministry of International Trade, Industry and Investment Sarawak elaborated that the memorandum would pave the way for the three entities to conduct a detailed commercial evaluation on the development of bamboo plantation, pulping and fibre-based products in Sarawak.
Commenting on the MoU – which would involve an estimated RM1.8 billion or USD400 million in total investment – Datuk Amar Awang Tengah noted how “this strategic alliance” would be able to attain a competitive advantage in the global bamboo market by capitalising on their respective strengths.
He further stated that this cooperation would not only lead to capital inflow, but also technology and knowledge transfers, as well as employment opportunities in the State.
“This is in line with Sarawak’s Post COVID-19 Development Strategy (PCDS) 2030 aspiration to transform Sarawak into a developed State through economic prosperity, social inclusivity and environmental sustainability,” he said.
Datuk Amar Awang Tengah, who is also Minister for International Trade, Industry and Investment Sarawak, led the Sarawak Government delegation to China as part of efforts to bolster the development of the State’s green economy and bamboo-based industry through the exploration of technological, product and investment opportunities.
Prior to the MoU signing ceremony, the delegation toured facilities belonging to the aforementioned Chinese companies, where they gained insights on bamboo-based product applications and production processes, among others.
At the G-COVE super factory owned by G-COVE Technologies, Datuk Amar Awang Tengah extended an invitation to the company to expand its business and investment activities in Sarawak.
G-COVE’s core business is the production of moulded boxes for food, medical and industrial packaging. These products are biodegradable, eco-friendly and halal-certified, hence the increasing demand it receives from Muslim markets in China, the Middle East and Malaysia.
Meanwhile, at the BABO Healthy Bamboo Industrial Park, its owner Sichuan Vanov New Materials expressed its interest in establishing an integrated mill that produces bamboo fibre and related products in Sarawak.
In response, Datuk Amar Awang Tengah welcomed the move, adding that, “A technical committee comprising relevant agencies will be formed to facilitate (Sichuan Vanov New Materials) in conducting a comprehensive study to develop a bamboo pulp mill in Sarawak.
“This investment will further catalyse the development of bamboo plantations and the bamboo downstream processing industry in Sarawak.”
It comes as the high-tech company, also known as BABO, is looking to expand its capacity to meet the growing demand for eco-friendly bamboo fibre-based products including tissues, fibre wipes, moulded boxes and diapers.
A major bamboo fibre producer in China, BABO is capable of producing 300,000 tonnes of bamboo pulp annually, requiring around one million tonnes of green bamboo sourced from renewable bamboo plantations via commercial plantations and community farming.
Reference:
Deputy Premier visits G-COVE in China to explore opportunities for bamboo-based industry in Sarawak. (2024, May 26). DayakDaily. https://dayakdaily.com/deputy-premier-visits-g-cove-in-china-to-explore-opportunities-for-bamboo-based-industry-in-sarawak/
G-COVE. (2024, May 27). Visit by Sarawak Deputy Premier to G-COVE for Bamboo Industry Development and Promotion of “Replace Plastic with Bamboo” Industrial Chain [Press release]. https://www.g-cove.com/Visit-by-Sarawak-Deputy-Premier-to-G-COVE-for-Bamboo-Industry-Development.html
Pusaka Timber Industries signs MoUs with 2 Chinese companies involving RM1.8 bln total investment. (2024, May 28). DayakDaily. https://dayakdaily.com/pusaka-timber-industries-signs-mous-with-2-chinese-companies-involving-rm1-8-bln-total-investment/
Samuel, A. (2024, May 26). Chinese company considers US$100 million investment in S’wak’s bamboo industry. The Borneo Post. https://www.theborneopost.com/2024/05/26/chinese-company-considers-us100-million-investment-in-swaks-bamboo-industry/
Samuel, A. (2024, May 28). MoU signed to conduct feasibility study for proposed bamboo-related products mill in Sarawak. The Borneo Post. https://www.theborneopost.com/2024/05/28/mou-signed-to-conduct-feasibility-study-for-proposed-bamboo-related-products-mill-in-sarawak/
