State govt in final stage of formulating post Covid-19 economic strategy

Muhammad (top right) and other participants of the webinar clockwise from top left Ting, Dr Chew, Dr Sim, Audry and Abang Helmi having discussions during the webinar. Screenshot taken from Sarawak Business Federation’s Facebook page.

By Adrian Lim

KUCHING, Feb 24: The state government through the Sarawak Economic Action Council (SEAC) is in the final stage of formulating the post-Covid-19 exit economic strategy towards 2030.

Sarawak Economic Planning Unit (EPU) director Muhummad Abdullah Zaidel said Chief Minister Datuk Patinggi Abang Johari Tun Openg will announce the details of the economic strategy plan sometime in March this year.

“The vision of YAB CM through this plan is by 2030, Sarawak will be a thriving society driven by data and innovation.

“When everyone enjoys economic prosperity, social inclusivity and a sustainable environment.

“It is not only about economic growth but to cascade the wealth of prosperity equitably and sustainably for all Sarawakians,” he said today during a webinar organised by Sarawak Business Federation (SBF) entitled Covid-19 vaccination and the impact on Sarawak business.

Among those who joined the webinar include Minister for Local Government and Housing Datuk Seri Dr Sim Kui Hian, SBF deputy president Datuk Philip Ting, Sarawak Bumiputera Entrepreneur Chambers (DUBS) chairman Datu Abang Helmi Ikhwan, Sarawak Tourism Federation (STF) president Audry Wan Ullok and Borneo Medical Centre board of management chairman Dr John Chew.

Muhummad explained that the SEAC exit strategy plan was designed in such a way that the wealth will be distributed to the rakyat.

Thus, Muhummad said the state government is expecting the Sarawak economy to grow by eight per cent annually.

He disclosed that the EPU has engaged more than 1,000 stakeholders to develop the SEAC initiative.

Muhummad added more than 15,000 hours have also been committed over the last five months to formulate the programme.

He also revealed that there will be 300 catalytic projects to be implemented over the next 10 years to drive Sarawak’s economy to achieve high-income status by 2030.

He believed the private sector will be the key drivers that will be the engine of growth for the state’s economy in the next few years.

Going forward, Muhummad outlined that businesses need to change the way they operate, especially taking advantage of the digital economy provided by the state government.

He noted the Covid-19 pandemic has accelerated the need for digitalisation.

“Basically, digital transformation is changing the business and the revenue model for the day ahead.

“In order to sustain our business, we have to innovate and apply digital technology in our business process and marketing,” he added.

For 2021, Muhammad projected that the Sarawak’s economy will grow between six to eight per cent. —DayakDaily