KUCHING, Oct 19: Sarawak is capable of doubling its gross domestic product (GDP) from RM140 billion in 2022 to RM282 billion in 2030 as targeted under Post-Covid-19 Development Strategy 2030 (PCDS 2030) given the vast opportunities for growth in the next seven years, according to Sarawak Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg.
In a report today shared on Sarawakku, the official Facebook page of the Premier, in justifying his confidence that Sarawak could double the size of its economy by 2030, Abang Johari pointed out that the State and world’s economic environment in the decade leading up to 2030 would see tremendous potential for Sarawak to exploit as the world moved in earnest against climate change and towards sustainability.
“We have to look not only at the State and national perspective but also at the global perspective to know our potential,” he said.
The Premier noted that the Conference of Parties (COP) on climate change scheduled to be held in Dubai in 2028 was a clear signal that Sarawak was right in its approach to gain opportunities in adversity to expand its economy and increase its revenue.
The Premier made these remarks while delivering the keynote address during the Sarawak Civil Service Retreat, which was held the Royal Perak Golf Club in Ipoh today.
Abang Johari further stated that Sarawak must add value to its resource strength, which could be demonstrated by the development of hydrogen for export by 2027 as the world shifts to clean energy in order to achieve net-zero emissions by 2050.
He added that Sarawak’s sources of revenue would also include carbon trading as vast areas of forest were being developed as carbon sinks to be traded as carbon credit to offset carbon sources in other countries.
The Premier also told the 150 department heads and senior officers attending the annual retreat that the downstream development of the State’s oil and gas resources to produce methanol and ammonia would increase Sarawak’s sources of revenue.
He said that there is little reason why Sarawak could not double its GDP to RM282 billion by 2030 if it could increase its annual income from RM5 billion to RM12 billion in 2022.
“I think we can achieve the RM280 billion target,” he remarked.
Meanwhile, drawing inspiration from 35th USA President John F. Kennedy’s vision of putting man on the moon and citing the success of China and Japan in becoming giant economies, Abang Johari expressed confidence that Sarawak could achieve the target if both the civil service and political leadership set out to implement PCDS 2030 and the recently-launched Sarawak Digital Blueprint as one united team.
“If you and I can work together, we can do it,” he noted.
He further explained that with increased revenue, Sarawak would need to invest in infrastructure, such as seaports, to create a favourable environment for the growth of the service and agricultural sectors.
He also said with the economy expanding, only then Sarawak would have the capability to triple its median household income from the current RM5,000 to RM15,000 in 2030 in order to address the gap between the national and State average.
Abang Johari further told the officers that as Sarawak’s financial standing strengthened, the state would have to save part of its revenue for the benefit of the future generations through the Sarawak Sovereign Wealth Future Fund (SWFF) which is expected to be operational by next year with an initial capital appropriation of RM8 billion.
Later, the Premier witnessed the signing of a Memorandum of Understanding (MoU) between Sarawak Foundation and Sunway Integrated Property Sdn Bhd for the development of a modern digital medical village in Samariang, Kuching.
He also witnessed the signing of an MoU between Land Custody and Development Authority (LCDA) and Sunway Integrated Property for the redevelopment of the 500-acre water-logged Bukit Assek area in Sibu into a modern and thriving township.
Earlier, State Secretary Datuk Amar Mohd Abu Bakar Marzuki spoke to present findings on various issues affecting Sarawak’s development under PCDS 2030 and also on issues concerning the Sarawak civil service.
Among those present were Deputy Premier of Sarawak Datuk Amar Dr Sim Kui Hian, cabinet ministers, and deputy ministers. — DayakDaily
