Abang Johari: New entity to be created to facilitate investments in Sarawak
Posted on : 28 Jan 2022  Source of News: The Borneo Post
By Antonia Chiam on January 24, 2022, Monday

Abang Johari speaking at the awards presentation ceremony. – Photo by Roystein Emmor

KUCHING (Jan 24): A new entity called Invest Sarawak will be established to assist people who are keen to invest in Sarawak, said Chief Minister Tan Sri Datuk Patinggi Abang Johari Tun Openg.

He said the entity will come under the care of International Trade and Investment Minister Datuk Amar Awang Tengah Ali Hasan, who is a deputy chief minister.m “We want to help people invest in Sarawak easily (by providing) easy access. It is a one-stop centre where all the prerequisites (and) requirements will be coordinated. “The allocation of land, power, water supply, and all these will be coordinated under Invest Sarawak,” he said at the Sarawak State Entrepreneur of the Year Award 2021 Presentation Ceremony here.

Abang Johari said this effort was for the business community as the state government was committed to creating an ideal climate for investment through business-friendly policies and initiatives to shore-up the confidence of local and foreign investors. He also pointed out that the state was now giving emphasis on the hydrogen economy. “Our economy must be environmentally friendly, (which is why) we have one (Cabinet) portfolio called Energy and Environmental Sustainability. We are consistent with world trends. “We have to balance the demand of the environment and demand for our economy to move forward. So our land use policy and reforestation and also the idea of carbon trading will be included in our future economic strategy. “With that, there are ample opportunities for the business sector but then the business sector must be proactive and then must be consistent with the current technology worldwide,” said Abang Johari, who is also Energy and Environmental Sustainability Minister

Abang Johari also said that while the government has introduced many initiatives to spearhead new directions for the economy, the private sector must also be fully engaged in driving the growth of the Sarawak economy. “The key to realising Sarawak as a developed economy by 2030 is the involvement of Sarawak businesses in investing in projects in Sarawak. The GPS (Gabungan Parti Sarawak) government will step up our efforts in promoting entrepreneurship and investment among Sarawakians who are keen to develop and implement their projects.”

Abang Johari also informed that the state government will pursue a three-pronged strategy in the 2022 Budget, which includes continuing to diversify the economy with special focus on modernisation of agriculture, strengthening infrastructure, advancing tourism and accelerating human capital development. “Also to accelerate the rural transformation initiatives with the implementation of various major infrastructure works such as roads and bridges, basic public amenities and facilities that would help to spur economic growth and stimulate demand. “And to continue to enhance the state revenue through revenue re-engineering so that the state could have the fiscal flexibility in managing its financial resources and in strategising its development agenda. “This will enable the state to implement infrastructure projects and basic amenities expeditiously and at the same time, build ample reserves to weather any eventualities,” he said.

Abang Johari noted that these strategies were critical in meeting the objectives to accelerate the development in the state to ensure balanced development between the urban and rural areas. “More areas will be opened up for productive economic activities that will provide greater job and business opportunities. This will eventually uplift and enhance the well-being of the rakyat especially the rural community,” he said.