The state government is now moving forward to achieve the targeted growth of 6.5 per cent per annum to become a high income and developed state status by 2030.
“Hence, there is a need to have the necessary infrastructure in place for the economy,” said Chief Minister Datuk Patinggi Abang Johari Tun Openg.
“The state government has adopted the expansionary public spending measure, particularly for development purposes to ensure our economy continues to grow and strengthen.
“We are fully aware of what is currently happening around us today as the global economic growth has softened and the national economy has also moderated on the risks of further slowdown in the global trade,” he added in his winding-up speech, yesterday.
“We know, Sarawak will not be spared from the slowdown as we have always been an open economy. Thus, constant change is inevitable to make us remain relevant to the world of today.”
Abang Johari also stressed that with the challenging backdrop, it is important for us to continue aggressively in implementing and monitoring our development plan with the necessary adjustments to suit the present situation.
“We must put in place appropriate strategies to stimulate our domestic economic growth.
“The process of development in developing and underdeveloped countries cannot be attained simply by just allowing market forces to function because the country is held back by the primary lack of basic social and economic overheads such as schools, technical institutions, research institutes, hospitals, roads and bridges, railways and ports which require high investment.
“With such investment it will lead to the creation of spin-off economies which in turn will create more opportunities for private enterprises to expand and develop, especially in logistics, transport of goods, product development and exports.
“Therefore, with enough resources and reserves, the state government has embarked on its role to invest in these primary infrastructures.
“Thanks to our predecessors who have been able to accumulate huge reserves for the state and of course, we will not spend all the reserves as we may need it for our future generations and not to burden them as well as for rainy days,” he said.
