State economy forecast to grow 5 pct this year — Abg Johari
SIBU: Sarawak’s growth this year is projected to outpace the country’s economic growth forecast of 4.5 per cent, says Chief Minister Datuk Patinggi Abang Johari Tun Openg.
He said based on the development planned by the Sarawak government, the state economy is expected to grow by about five per cent.
“The injection of public expenditure will stimulate our economy, and there will be business opportunities,” he said, referring to the state budget for this year.
He was speaking at a business dialogue session organised by Sarawak Chamber of Commerce and Industry (SCCI) Sibu Region here yesterday which was attended by some 400 participants.
Abang Johari said the budget announced towards the end of last year totalled RM11.1 billion – the first budget to exceed RM10 billion – of which RM9 billion is earmarked for development.
In addition, he pointed out that Sarawak also has good reserves and is prudent in its spending.
On what the Sarawak government is doing and planning to do, the chief minister said the emphasis is on improving logistics, opening up of land, Internet of Things ( IoT), and developing local talent and innovation.
“For logistics, it must be upgraded for transportation of goods and services.
“It must be given top priority,” he said, citing the construction of the state’s coastal road and Batang Lupar, Batang Igan and Batang Lassa bridges as examples.
With RM6 billion allocated for this purpose, he said this is where the five per cent sales tax on petroleum products in the state – estimated to generate RM3.8 billion – comes into play.
Abang Johari also mentioned the use of technology to capitalise on the favourable climate for agriculture, as well as efforts to improve the digital infrastructure which includes going 5G in certain strategic areas, as among other efforts being undertaken by the government.
“We’ve allocated RM1 billion to build all towers within these two years. We’ve already begun to upgrade our digital infrastructure because the technology has to be there,” he said.
SCCI president Datuk Abang Abdul Karim Tun Openg also spoke at the dialogue session which saw SCCI Sibu Region chairman Datuk Jason Tai Hee serve as moderator.
Among those present were Assistant Minister of Education and Technological Research Dr Annuar Rapaee, Sibu Municipal Council chairman Datuk Tiong Thai King, Sibu Resident Charles Siaw, and United Chinese Association ( UCA) Sibu president Ngieng Ping Sing.