KUCHING: Sarawak aspires to achieve a Gross Domestic Product (GDP) of eight per cent a year to reach RM282 billion by 2030, said Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg.
This will be twice the GDP growth of four per cent recorded in 2019.
“With this, it can fulfil our aims to increase our median monthly household income from RM 4,000 (equivalent to USD 1,000) to RM15,000 (equivalent to USD 3,300) through our development plans by 2030,” he added.
He said that Sarawak is restructuring its economy based on its strength that includes its strategic location in a fast-growing region.
“That being said, I strongly believe that Sarawak is capable of emerging as a prominent investment hub offering cost-competitive advantages with good transportation linkages with other parts of the region and the world at large,” he added.
He was speaking at the 27th World Congress on Innovation and Technology| 6th International Digital Economy Conference Sarawak (WCIT|IDECS 2023) at Borneo Convention Centre Kuching (BCCK), here Wednesday (Oct 4).
Abang Johari said Sarawak has maintained a trade surplus over the years from major trading partners in Asia and Europe.
“Sarawak is a major contributor to Malaysia’s energy sector, primarily through oil and gas production, as well as hydropower generation.
“The continuous development of infrastructure in Sarawak, exemplified by initiatives like the Sarawak Corridor of Renewable Energy (SCORE), underscores its aspiration to emerge as a key economic centre in the region.
“However, economic growth must be balanced with environmental sustainability and Sarawak embodies the dual challenge of harnessing its economic potential while aligning with broader global economic and environmental goals,” he added.
