KUCHING: Despite challenges faced in the national and global economies, Sarawak’s economy is estimated to grow at 5.0 per cent in 2019 compared to 4.6 per cent in 2018.
Chief Minister Datuk Patinggi Abang Johari Tun Openg revealed this in his Chinese New Year message yesterday.
He said he was confident Sarawak’s economy would grow at an encouraging rate in future because of its policy which was geared towards growth and expansion.
“With the imposition of the 5 per cent sales tax on oil and gas, the revenue will be used more on infrastructure development,” he said.
Abang Johari said the expanding economy meant there would be more work for contractors, consultants and more businesses for traders all over Sarawak.
“We will be spending the revenue we expect to collect, and not using Sarawak’s reserves.
“Be rest assured our economy is well managed and that we are prudent in our spending. This is why we have a substantial amount of reserves and have received a ‘Clean Bill of Health’ from the Auditor-General for many years already,” he pointed out.
Political stability and unity among the people in Sarawak would also improve the state’s economy, he added.
Abang Johari said China and South Korea had been investing in the state’s industrialisation programme because of Sarawak’s stable policies.
“They have been investing in programmes, especially in the Samalaju Industrial Park and Samajaya High-Tech Park because they know our policies are consistent and well-defined while our renewal energy capability is enormous,” he added.
Abang Johari said to date, Sarawak Corridor of Renewable Energy (Score) has recorded about RM80 billion worth of public and private investments.
“Through the Score Development Plan, the state is forecasted to generate about RM334 billion in terms of investments.
“When the Score Development Plan is fully realised by 2030, it is expected to create 1.6 million new job opportunities, especially for young Sarawakians,” he pointed out.
The chief minister then said last week, when he launched the first phase of an elecfoil production facility in Samajaya High-Tech Park costing RM400 million, the total investment by companies in Samajaya had exceeded RM12 billion and more foreign companies had indicated their readiness to invest there.
