Optimising assets key to GDP growth

Abang Johari. (Photo: UKAS)

KUCHING: Sarawak will optimise its assets and funding for it to attain the eight percent gross domestic product (GDP) growth by 2030, said Chief Minister Datuk Patinggi Abang Johari Tun Openg.

“We need to make use of our existing assets instead of building new structures and developing creative financial models to optimise cash flow.

“We must strike a balance between physical infrastructure and targeted programmes that complement these structures. We emphasise on ensuring that finances are allocated towards initiatives that cater to what matters most.

“For example, an improvement in physical and digital connectivity will have a ricocheting positive impact throughout the state,” he said at an International Digital Economy Conference Sarawak (Idecs) 2020 here today.

Abang Johari said these were among the catalytic initiatives identified by the Sarawak Economic Action Council (SEAC) to propel Sarawak’s economic growth.

The chief minister also said the state government would formulate an improved economic structure and environment for it to be an export-led economy that emphasised on significant increases in productivity and downstream activities.

“We aim to provide a fair and competitive playing field through holistic policies and efficient approval processes. This is vital to attract investments and retain quality industry players in all sectors,” he said.

Abang Johari said by adopting a digital government, it could improve government services to be the catalyst for the economy and by improving monitoring capabilities, it could ensure rigorous monitoring of initiatives using technology.

“We must also be inclusive for all segments of society including B40, M40 and the rest. There must be initiatives that create opportunities with lower barriers of entry for the rakyat and address impoverished segments of society.

“The initiative will cover support of financial growth for the poor and shelters for our fellow Sarawakians in need,” he said.