Sarawak to continue pursuing economic restructuring this year, says Abg Jo

SIBU: Sarawak will continue to pursue its economic restructuring this year as underlined in Post Covid-19 Development Strategy (PCDS) 2030, said Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg.

He said this included the takeover of Bintulu Port, MASwings, Affin Bank, and transitioning into a green economy.

Abang Johari pointed out Sarawak was very fortunate from 2021 to 2023 as its economy seemed to move on the right track.

“In 2022, we managed to increase our revenue from our economic activities to RM11 billion and in 2023 we managed again to increase our revenue to a record high of RM13.3 billion.

“Last year we were acknowledged by the World Bank as a high-income state. Now we want to translate that high-income state into high household income.

“We are able to restructure our economy and we will pursue the restructuring.

“God willing this coming June, we are going to take over Bintulu Port, which has been under the federal government for the last 43 years,” he said when officiating at the United Chinese Association (UCA) Sibu’s Chinese New Year gathering on Tuesday night.

He added that Sarawak also wants to set up a port authority covering all ports with the introduction of legislation.

On MASwings, Abang Johari said the business model for the takeover will be different from other airlines.

“It is unique to us. Just like when building a bridge, you do not talk about ROI (return of investment) but to facilitate mobility and the success will be measured by our GDP (gross domestic products) growth.

“When we have a lot of tourists and people doing business coming over to Sarawak, that will create jobs. What is important is the spin-off of the tourism sector,” he said.

On Affin Bank, where Sarawak aims to become the blockholder, he said the negotiation is almost conclusive.

“Maybe in one or two months, we will have our own bank and the structure I cannot reveal to you tonight.

“I will reveal at the right time how we want to structure the bank. In other words, this bank will be the bank that boosts our small-medium enterprises (SMEs) because we want our SMEs to be very active and participate in our expanding economy,” he said.

On the green economy, he said Sarawak is at the forefront as far as hydrogen is concerned.

“Sarawak’s economic future is very bright. With stability, politics must be managed properly. No point for us to quarrel among ourselves.

“That is what is happening in Peninsular Malaysia,” he added.