Next Five Years Crucial Transition Period For Sarawak’s Economy

KUCHING, Oct 21 (Bernama) -- The next five years will serve as a crucial transition period for Sarawak in its efforts to develop a high-value economy based on technology creation, said Sarawak Premier Tan Sri Abang Johari Tun Openg.

He said that Sarawak must adopt new approaches and policies to enhance the state’s economic competitiveness, including shifting from assembly-based activities towards technology creation.

“In this regard, we must have efficient policies that deliver an impact not only in urban areas but also in rural areas,” he said while speaking at the Gabungan Parti Sarawak (GPS) Backbenchers Night held at a hotel here tonight.

Abang Johari said this endeavour is essential for enabling Sarawak to escape the middle-income trap through structural economic transformation.

He said the foundation for this economic transformation has been built over the past five years through an emphasis on the digital economy, the strengthening of the state’s fiscal position, and the consolidation of strategic state assets -- all of which support the implementation of development initiatives.

“We have successfully laid a solid foundation to drive economic development through new approaches to economic management over the last five years,” he added.

Sarawak is expected to hold a state election in the near future, as the term of the 19th Sarawak State Legislative Assembly is set to expire automatically in February next year.

--BERNAMA