Sarawak's Economic Future Private Sector Set to Propel Growth Over Next 20 Years

Sarawak’s Economic Future: Private Sector Set to Propel Growth Over Next 20 Years

By Minul Islam Rony

KUCHING, Oct 19: In a bold assertion of Sarawak’s economic future, Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg has emphasized a pivotal shift from government-led growth to a dynamic, private-sector-driven economy. Speaking during the ‘Sarawak Agenda: Town Hall Session with the Premier of Sarawak’ at the Malaysia International Trade and Exhibition Centre (Mitec) in Kuala Lumpur, the Premier outlined his vision for the state’s economic landscape over the next two decades.

Sarawak's Economic Future Private Sector Set to Propel Growth Over Next 20 Years
Sarawak’s Economic Future Private Sector Set to Propel Growth Over Next 20 Years / Photo Credit: UKAS

Transitioning to a Private Sector Economy

During the event, part of the Lan Berambeh Anak Sarawak 2024 celebrations, Abang Johari articulated his belief that the government will increasingly adopt a supportive role in the economic growth of Sarawak. He emphasized that the state’s economic engine would no longer be the government but instead, the private sector would take the lead. “I may be wrong, but the future of Sarawak is not confined to government administration. The main engine of growth will be the private sector,” he stated, signaling a transformative era ahead.

Drawing a parallel with Singapore’s economic model, the Premier highlighted the importance of a flexible transition between the public and private sectors. He noted that Singapore’s success can be attributed to open policies that allow civil servants to venture into the private sector, thereby leveraging their experience to drive economic progress. “I believe that in 20 years, Sarawak’s economy will similarly be propelled by the private sector, and we must prepare for this change,” he asserted.

The Role of Expertise in Economic Development

The Premier underscored the critical need for specialized skills and knowledge in areas such as technology and law to meet the burgeoning demands of the private sector. As Sarawak gears up for this economic transformation, the emphasis on education and expertise becomes paramount. The government’s focus on cultivating skilled professionals will be vital in ensuring that the private sector can effectively manage and grow the state’s economy.

Abang Johari’s comments reflect a broader recognition of the global economic landscape, where public-private partnerships and private sector innovation are key drivers of growth. In the context of Sarawak, this shift represents an opportunity for businesses to flourish and for the state to attract investment and talent.

Celebrating Sarawakian Culture and Traditions

The town hall session was not only a platform for economic discourse but also a celebration of Sarawak’s rich cultural heritage. It brought together Sarawakian students studying in Peninsular Malaysia, providing them with an opportunity to connect with their roots, share ideas, and express their aspirations for the future. The event was attended by notable figures, including Deputy Prime Minister Datuk Seri Fadillah Yusof, along with other state ministers.

A Call to Action for the Private Sector

The Premier’s vision serves as a call to action for the private sector in Sarawak. With a clear direction towards a market-driven economy, local businesses and entrepreneurs are encouraged to take initiative and innovate. This transition will require collaboration among various stakeholders, including government agencies, educational institutions, and the private sector itself.

Investors and businesses are urged to recognize the potential that Sarawak holds in the coming years. By aligning their strategies with the state’s vision, they can contribute to a robust economy that thrives on innovation and resilience.

Conclusion

As Sarawak stands on the brink of a significant economic transformation, the Premier’s emphasis on a private-sector-driven economy heralds a new era of growth and opportunity. The call for expertise in key areas signals a commitment to ensuring that Sarawak is well-equipped to navigate the challenges and opportunities that lie ahead. The path forward requires concerted efforts from all sectors of society, paving the way for a prosperous and sustainable future.

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