KUCHING: With Sarawak’s income expected to increase and grow even up to RM20 billion in the next 10 years, businesses can expect direct benefits from this achievement.
Sarawak Housing and Real Estate Developers’ Association (SHEDA) Kuching Branch chairman Datuk Sim Kiang Chiok said business activities would benefit from the continuous infrastructure development and setting up of factories for the new industries such as green energy and hydrogen by the state government.
“Moreover, the state is expected to embark on carbon storage, utilisation, and storage (CCUS). The spinoff from all these investments and spending will have positive effects on our businesses and economy,” he said yesterday (Aug 10).
Sim commended Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg for his visionary and courageous move of imposing state sales tax (SST) on oil and gas exported from Sarawak.
He said this resulted in Sarawak’s income increasing by nearly three times following the good prices of petroleum products in the world market.
“The declaration by the World Bank that Sarawak is a high-income state shows that the income and wealth are growing on the right path.
“With the increase in the state’s income and revenue, the state government has taken the responsible move to plan and implement projects that will improve Sarawakian lives and their livelihood such as various infrastructure projects and green energy generations.
“At the same time, the state government is also investing in our young generations through the aspiration of giving free tertiary education at state-owned higher institutions of learning,” he said.
However, Sim said lack of human capital which needed time to educate and train was a challenge that Sarawak must overcome in the future.
“Our manpower requirement needs to be filled quickly without being held back by red tapes. Small-medium enterprises (SMEs) also need to grow to support the state government’s efforts as such new capital and funding need to be dispersed so they can complement the state’s growing economy.
“Nonetheless, I am confident that the state government has plans to have better distribution of income among Sarawakians so that our wealth can be enjoyed by all,” he said.
