Sarawak plots RM100 bln growth strategy

KUCHING: Sarawak aims to secure RM100 billion in investments over the next five years, primarily for strategic infrastructure development to bolster the state’s economy.
“We want to invest in additional infrastructure to complement our existing assets,” said Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg during the launch of the Post COVID-19 Development Strategy (PCDS) 2030: Highlights 2030 Report at Wisma Bapa Malaysia today (Nov 22).
The state has already allocated RM12 billion for the coastal road project, and the RM100 billion investment will also fund new airports and port infrastructure.
“We have a comprehensive plan to secure funding and ensure a return on investment within 15 years,” he added.
Abang Johari said that these infrastructure projects would significantly boost Sarawak’s Gross Domestic Product (GDP) and create numerous job opportunities, driving economic growth and improving living standards.
Beyond infrastructure, Sarawak is prioritising investments in the energy sector, particularly renewable energy sources like hydrogen.
“These initiatives are expected to attract foreign investment, especially from countries like South Korea and Japan, which have expressed interest in the hydrogen and methanol energy sectors,” he said.
The state-owned company, Petros, will play a crucial role in managing the oil and gas industry, contributing to Sarawak’s revenue generation.