KUCHING: Planners and administrators are urged to look at devising government policies with the objective to streamline approval processes for various industries in order to reduce the bureaucracy red tapes and reduce the cost of doing businesses in Sarawak.
Sarawak Housing and Real Estate Developers’ Association (Sheda) president Augustine Wong Chung Ho said this in support of the Post Covid-19 Development Strategy 2030 (PCDS 2030) with the aim of attaining average growth of eight percent per annum in order to achieve high income status.
Sheda calls for all quarters, namely government planners and implementing agencies, private sectors, from big corporations to entrepreneurs encompassing all industries to stay focused on the PCDS 2030 strategies so that the transformation objectives can be realised.
“The whole delivery system must be efficient and all sectors will have to collaborate productively for PCDS 2030 to be effective, hence this emphasis on Ease of Doing Business,” he explained.
Augustine, in the statement, believes that for the initiative to thrive, the banking sector must be roped in by the state government and they are encouraged to support local enterprises and industries.
“Banking institutions need to be sensitive towards the needs of Sarawak’s small and medium entrepreneurs (SME) and industries.
“They not only need to facilitate domestic investments but also to encourage further reinvestments in order to achieve our targeted growth,” he added.
He pointed out that decisions to go on ‘a financial crunch’ will have adverse impact on the needed working capital that local industries rely on to keep them afloat as moratorium is after all only a temporary measure.
“The business strategy of bankers is often seen as giving out umbrellas during good weather and taking the umbrellas back during rainy days.
“It can no longer be the way of doing business as financial crunch on negatively affected industries will have unfavourable effects on Sarawak’s economy,” he added.
Sheda concurred that utility development is one of the key enablers in PCDS 2030, highlighting that Sarawak Energy Berhad (SEB) as a utility provider should not limit its scope to only providing reliable, economical, and sustainable electricity supply.
“SEB is now a major regional power house capable of supplying electricity to Sabah and Kalimantan.
“While SEB is supporting the growth of Sarawak’s development by creating employment and economic opportunities for Sarawakians through its projects and operations, the state government is urged to brainstorm for a new formula to lessen the burden of local businesses.
“Having to pay heavy capital outlay in the form of capital contributions to SEB when carrying out development projects, by which the costs ultimately will be passed onto to house buyers and end-users,” he stated.