GEDONG: The Sarawak government plans to set up its own commercial bank.
Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg said by having its own commercial bank, Sarawak would be able to better help small and medium entrepreneurs in this state.
“When our economy is growing, it will trigger greater participation of the private sector including the SMEs.
“But, sometimes our SMEs have problem in getting financial loans from commercial banks although they have a good project.
“That is why, I am working on maybe this year or by year end, Sarawak will have its own commercial bank to help our SME entrepreneurs,” he said at a Majlis Ramah Tamah Aidilfitri here on Sunday.
He however said that he could not reveal it yet as the matter was still under negotiation.
“The majority target group for our commercial bank is our own local Sarawak SMEs. And this will be the catalyst for the development of SMEs in our state,” he said.
Sarawak currently has a Development Bank (DBOS), which was set up to fund strategic projects for the transformation of the state.
DBOS is committed to facilitate economic growth of Sarawak and to transform Sarawak’s non-renewable resource-based economy to a more broad-based sustainable economy.
Abang Johari also said that Sarawak was developing its own telecommunication company.
“We do have telecommunication tower but not the telecommunication transmitter. Therefore, we need more transmitters so that it can improve our internet connectivity throughout Sarawak including to our rural schools.
“This is what we are developing, and by 2025, when everything is in place, Sarawak will be a leading state when it comes to internet,” he added.
