Follow and subscribe to DayakDaily on Telegram for faster news updates.<!––
By Nur Ashikin Louis
KUCHING, Oct 9: Chief Minister Datuk Patinggi Abang Johari Tun Openg is optimistic that Sarawak will be the country’s largest producer of palm oil in the next two years with output exceeding the current rate of 4 million tonnes per year.
He mentioned that on Oct 4, 2021, Bursa Malaysia Derivatives Bhd has launched the implementation of the East Malaysia Crude Palm Oil Futures (FEPO) contract.
“This will help boost the development of Sarawak’s palm oil industry to a higher level, with the opportunity to get better prices with our palm oil opened to futures trading.
“This in turn provides more employment opportunities for the people of Sarawak, as Sarawak is a major contributor to crude palm oil production. And, I expect that in the next two years, Sarawak will become the country’s largest producer of palm oil with an output exceeding the current rate of 4 million tonnes a year,” he said.
He said these when delivering his speech at the State Banquet in conjunction with Head of State Tun Pehin Sri Abdul Taib Mahmud’s 85th birthday celebration held at Borneo Convention Centre Kuching (BCCK) tonight.
Abang Johari further said that on Oct 6, 2021, he led a delegation to interact virtually with a consortium of investors from South Korea, who plan to produce green hydrogen gas and ammonia in Bintulu which will definitely have a huge impact on the petroleum industry in the State.
“I strongly believe that the confidence of economic sector players and foreign investors in the stability and huge economic growth potential of the State, will provide space for the State to continue to increase the average household income of the State by creating more employment opportunities for our people, especially the youth,” he added.
He also said the success of industrial programmes so far, such as those implemented in Samajaya in Kuching and Samalaju in Bintulu, has provided high-income employment to at least 20,000 young people.
Therefore, he said the State government is confident that the increase in foreign direct investment in the State will continue to improve the State’s poverty rate to less than 12.9 per cent as recorded last year. — DayakDaily