CM: ‘Sarawak Invest’ as one-stop investment agency, optimise use of existing buildings to support growth

Abang Johari launching Sarawak’s Post Covid-19 Development Strategy 2030 on the Sarawak Day today (July 22, 2021).

By Lian Cheng

KUCHING, July 22: Sarawak will establish ‘Sarawak Invest’ as a one-stop agency for investment while at the same time, optimise the use of existing assets to support socio-economic development.

This was announced by Chief Minister Datuk Patinggi Abang Johari Tun Openg when launching Sarawak’s Post Covid-19 Development Strategy 2030 on Sarawak Day today.

The purpose of setting up Sarawak Invest, he said, is to improve ease of doing business to facilitate domestic investment (DDI9 and making Sarawak an investment destination of choice for foreign investors (FDI).

Facilitating domestic investment has been listed by Abang Johari as one of the seven strategic thrusts to accelerate economic development when steering Sarawak towards a high-income economy by 2030.

Another strategic thrust is optimising the use existing assets and government funding and development human capital to support socio-economic development.

“For example, rather than constructing new buildings, we should optimise the use of existing building spaces for product activities.

“Human capital investment should focus on the right training to meet industrial needs of the State to progress,” said Abang Johari.

Transforming Sarawak into a competitive economy by increasing productivity level, development more high value downstream activities and creating new industries through active private sector involvement is among one of the seven strategic thrusts.

Citing precision farming as an example, Abang Johari said by doing so, Sarawak may increase quantity and quality of produce for high value downstream food processing products for domestic consumption and export market.

Spending on areas that yield the most economic, social and environmental impact is the third strategic thrust. For this, Abang Johari cited environmental-friendly construction (design and materials) of access road to social-economic hubs as an example.

Abang Johari also named “accelerating digital adoption and data utilisation to generate outcomes” as a strategic thrust.

This, he said, will include establishing a state-wide network coverage of telecommunication infrastructure and services that will enable the adoption of digital technology in agriculture for precision farming, industry 4.0, e-learning and telemedicine to support Sarawak’s digital economy initiatives towards high income and developed State by 2030.

Driving economic and social benefits for all Sarawakiwans, focusing on impoverished segment of the population is the sixth strategic thrust. This includes providing the society with access to basic infrastructure and implementing concerted initiatives to help increase household income.

While moving forward to high-income economy, Abang Johari said it must be achieve through balancing economic growth with environmental sustainability, the seventh strategic thrust.

“Sarawak aims to balance economic growth with a responsible approach towards utilisation of natural resources sand integration of climate adaption and mitigation plans,” said Abang Johari. — DayakDaily