By Amanda L
KUCHING, Nov 10: Competitive electricity tariffs could strengthen Sarawak’s appeal to international investors, particularly industries seeking to manage operating costs while expanding their manufacturing activities.
Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg said the state’s control over its energy supply enabled it to offer competitive electricity rates, giving Sarawak an advantage over other investment destinations in the ASEAN region.
“We have the lowest electricity tariffs in the region because we control our own energy supply,” he said during a fireside chat at the Standard Chartered–Invest Sarawak–BMCC Industrial Transition Forum here today.
He said Sarawak’s strategic geographical location and sufficient energy resources further strengthened its position as an investment destination.
However, competitive electricity rates were only one of several factors considered by prospective investors, who also looked at the availability of water, government policies and the quality of the local workforce.
Abang Johari said investors wanted to ensure that Sarawak could provide workers with the knowledge and skills required by industries increasingly reliant on modern technologies.
“Prospective investors assess more than access to utilities, taking into account the government’s policies and the quality of the education system.
“This is essential as industries require employees equipped with the skills to work with modern technologies,” he said.
Beyond providing the necessary conditions to attract investment, Abang Johari said the government also recognised the importance of private-sector participation in driving economic growth.
He said the private sector should take the lead in developing their respective industries, while the State government focused on providing the necessary infrastructure, facilities and policies.
According to him, this approach could be supported through hybrid financing arrangements involving both public and private resources, particularly for large-scale development and infrastructure projects.
Under this model, the government could draw on state revenue and bond issuance, while private companies would provide financing and take responsibility for project implementation.
“The engine of growth is the private sector. They understand their respective industries well, while the government provides the appropriate facilities and policies.
“The actual implementation of development lies with the private sector, including through private financing,” he said.
He said closer cooperation between the two sectors would allow financial resources to be channelled more strategically towards development priorities, supporting Sarawak’s long-term economic growth. — DayakDaily
