S'wak's economy stays resilient with strong sector growth, continued investments despite global risks, says Uggah
Uggah says the services sector is expected to grow by 6.7 per cent in 2024, supported by tourism, with 4.8 million visitor arrivals last year and 1.2 million in the first quarter of 2025. – Photo by Chimon Upon
KUCHING (May 28): Sarawak's economy remains on a strong growth path despite global uncertainties, with key sectors showing steady performance and continued investment driving development, said Deputy Premier Datuk Amar Douglas Uggah Embas.
He also said the services sector is expected to grow by 6.7 per cent in 2024, supported by tourism, with 4.8 million visitor arrivals last year and 1.2 million in the first quarter of 2025.
'Manufacturing output rose, driven by increased liquefied natural gas (LNG) production, though global market softening may affect demand later this year.
'The mining sector is projected to grow by 2.3 per cent in 2024, bolstered by new oil and gas developments such as the Kasawari field,' he said in his Finance and New Economy ministerial winding up speech at the State Legislative Assembly (DUN) sitting today.
Apart from that, he also said agriculture posted modest growth, with oil palm yields improving despite a slight drop in crude palm oil extraction rates.
While construction remains one of the fastest-growing sectors at 8.7 per cent, led by infrastructure projects under the 12th Malaysia Plan.
'Total trade grew by 2.8 per cent in 2024, with LNG and CPO exports leading the way, though crude petroleum exports declined.
'However, early 2025 trade data shows an 11.4 per cent contraction, reflecting external market risks,' he said.
Meanwhile he also said Sarawak secured RM7.6 billion in approved manufacturing investments in 2024, while public development expenditure reached nearly RM15 billion.
For 2025, the state has allocated RM10 billion for development, with RM5.9 billion from the federal government.
Uggah also noted strong domestic consumption, boosted by the revised public service pay scheme and targeted assistance programmes like Sarawak Basic Needs Assistance (SKAS) and Sumbangan Tunai Rahmah (STR).
Thus the state, according to him, remains committed to sustaining economic momentum, though growth projections of 5.0 to 6.0 per cent in 2025 may be challenged by global headwinds. douglas uggah DUN sarawak economy
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