Sarawak unity drives sustainable growth towards 2030 vision
Marking Sarawak Day 2025 under the theme 'Sarawak Maju Makmur' (Progressive and Prosperous Sarawak), he emphasised the state's commitment to inclusive growth through the Post-COVID-19 Development Strategy (PCDS) 2030.
'The Sarawak government will continue implementing PCDS 2030 to ensure socio-economic prosperity for all,' he stated in a Facebook post by the Office of the Premier.
The Premier also outlined key focus areas, including digital economy expansion, AI adoption, and sustainable environmental practices.
Sectors like oil and gas, plantations, tourism, and modern agriculture will receive accelerated development to bolster economic resilience.
Education remains a priority, with free higher education in selected fields at state-owned universities starting next year.
'This initiative allows students to focus on their studies while easing financial burdens on families,' he added.
Abang Johari reaffirmed Sarawak's dedication to safeguarding its rights under the Malaysia Agreement 1963 (MA63) and thanked organisers for ensuring a successful Sarawak Day celebration in Miri.
'May Sarawak continue to prosper and serve as Malaysia's harmony model,' he concluded. – Bernama
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
6 minutes ago
- The Star
Multitude of positive factors entrench Malaysia's economy on growth trajectory
KUALA LUMPUR: Bank Negara Malaysia (BNM) Governor Datuk Seri Abdul Rasheed Ghaffour has expressed optimism that Malaysia's economy remains on a strong growth trajectory due to multiple factors, such as resilient domestic demand and encouraging exports of electrical and electronic (E&E) products, despite headwinds from impending tariffs. The central bank governor said today that among the combination of positive factors supporting the economy are the frontloading of exports in the first six months, robust tourism activity that could raise Malaysia's export prospects, low unemployment and rising wages. Moreover, he highlighted that about 85 per cent of Malaysia's exports go to markets other than the United States (US). While uncertainties remain, particularly surrounding the final shape and scale of the US tariffs, BNM's revised growth forecast of 4.0 per cent to 4.8 per cent has taken into account multiple scenarios, including potential trade disruptions. "We have accounted for a range of tariff scenarios, including both favourable and less unfavourable trade negotiations outcomes as well as pro-growth policies in major economies. "A diversified export structure will help contain the direct effect from the US, as around 85 per cent of exports are to non-US markets, and no single market accounts for more than 15 per cent of Malaysia's exports,' he told Bernama in an exclusive interview. Abdul Rasheed noted that Malaysia's exports are spread across a wide range of products, consisting of E&E (40 per cent), non-E&E manufacturing goods (46 per cent) and commodities (14 per cent). He said almost half of the demand for Malaysian exports comes from Advanced Asia (19.4 per cent) and ASEAN countries (29 per cent). Domestically, Abdul Rasheed highlighted that domestic demand drives more than 90 per cent of Malaysia's economic growth. "Consumption is still resilient despite the tariff announcement, it's still resilient because income is still growing. Wages are still on an increasing trend, he said. In terms of unemployment, Abdul Rashee said that the rate is at three per cent and is lower than before the Covid-19 pandemic. "People have jobs. These are things that will support the consumption,' he said, adding that the government's ongoing policy support measures remain in place and support the growth. On July 23, Prime Minister Datuk Seri Anwar Ibrahim announced a cost-of-living relief package, which includes a one-off RM100 SARA cash aid, a reduction in the RON95 fuel price, toll hike postponements, and an expanded Rahmah Madani Sales allocation. "This will also provide some kind of spending from the rakyat and drive our domestic consumption,' he added. Turning to investments, Abdul Rasheed said Malaysia recorded RM378 billion in approved investments last year, with over half coming from domestic sources. He said these are tied to long-term national development plans and are expected to sustain momentum through this year and into 2026. In terms of exports, which are likely to be moderate in the second half of 2025 (2H 2025) as tariffs take effect and global growth slows, BNM expects E&E exports to continue supporting growth. Abdul Rasheed said this is underpinned by resilient demand for E&E and emerging opportunities in the artificial intelligence-related segment. "So this is where I think the question comes on tariffs. Exports will definitely be affected; everything in the world will be affected. However, if you look at global trade numbers, they are still growing. "Despite the challenging global environment, exports remained supportive of growth in 1H 2025, helped by robust growth in E&E exports.' "Frontloading activities ahead of anticipated tariff increase contributed to stronger export performance in the second quarter of 2025, although this has tapered down particularly in June,' he said. Abdul Rasheed highlighted that inbound tourism was also expected to provide support for exports in 2H 2025, driven by higher flight connectivity, visa exemptions and promotional activities leading to Visit Malaysia 2026. He said international visitor arrivals into Malaysia were 16.9 million from January to May 2025, which is 20 per cent higher than the same period in 2024. - Bernama
The Star
6 minutes ago
- The Star
Ringgit ends lower vs greenback following Bank Negara's GDP forecast revision
KUALA LUMPUR: The ringgit ended easier against the US dollar today, as traders' sentiment was affected by Bank Negara Malaysia's (BNM) gross domestic product (GDP) revision for the year. At 6 pm, the local note slid to 4.2275/2345 versus the greenback from last Friday's close of 4.2195/2245. The central bank has revised Malaysia's 2025 GDP growth to 4.0-4.8 per cent from 4.5-5.5 per cent previously, and similarly, the inflation rate for 2025 is projected to range between 1.5 per cent and 2.3 per cent from the previous forecast of 2.0-3.5 per cent. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the BNM is being pragmatic by adjusting the growth forecast lower, taking into account external risks. At the same time, a lower inflation forecast suggests that the impact from the anticipated RON95 subsidies rationalisation is likely to be manageable. "As such, we foresee this will be positive for the ringgit in the mid- to long-term as fiscal consolidation will continue to take place, resulting in more fiscal space which can be redirected into targeted assistance as well as higher development expenditure (DE). "This Thursday, the government will announce the 13th Malaysia Plan, and we foresee a higher allocation for DE in the next five years to drive the Malaysian economy into high-income status,' he said to Bernama. Meanwhile, he noted that the US Dollar Index (DXY) has strengthened, buoyed by optimism over the upcoming US-China trade talks. "The US Dollar Index (DXY) was up 0.5 per cent to 98.13 points as news over US tariffs is seen to be dollar-positive,' he said. US and Chinese officials are set to meet in Sweden today, with both parties expected to extend the trade truce. At the close, the ringgit ended higher against most major currencies. It rose against the Japanese yen to 2.8497/8546 from 2.8529/8565 at the close last Friday, appreciated versus the British pound to 5.6720/6814 from 5.6786/6853 last week, and edged higher against the euro to 4.9331/9412 from 4.9507/9566 previously. However, the ringgit was mixed against regional peers. It was almost flat against the Indonesian rupiah at 258.3/258.9 from 258.5/258.9 last Friday, gained against the Singapore dollar to 3.2917/2974 from 3.2937/2978 last week, weakened versus the Thai baht to 13.0511/0787 from 13.0268/0478 and fell against the Philippine peso to 7.39/7.41 from 7.38/7.40 previously. - Bernama:
The Sun
6 minutes ago
- The Sun
Two Bumiputera firms targeted for Bursa Malaysia listing by year-end
KUALA LUMPUR: The government is targeting at least two Bumiputera companies to be listed on Bursa Malaysia by the end of this year. Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi revealed this during the launch of the Bumiputera Rapid Acceleration and Value Enhancement (BRAVE) programme today. The initiative aims to strengthen the Bumiputera entrepreneurial ecosystem by offering alternative financing of up to RM1 million at a competitive profit rate of 3.5 per cent. Additionally, selected companies will receive comprehensive capacity-building support to prepare them for public listing. 'A total of 15 companies will be selected in the initial phase, and from that number, five will receive intensive mentoring to prepare them for listing on Bursa Malaysia by the end of this year,' Ahmad Zahid said in his speech, delivered by Minister of Entrepreneur and Cooperatives Development Datuk Ewon Benedick. As of 2022, only 62 out of 945 companies listed on Bursa Malaysia were majority Bumiputera-owned, representing just seven per cent. Over the past four years, only one Bumiputera company was listed compared to 96 non-Bumiputera firms. 'More concerning is that over the past four years, only one Bumiputera company has been listed compared with 96 non-Bumiputera companies. This reflects an urgent reality; we cannot remain complacent with the 'status quo' but must step out of our comfort zones and create change,' he said. To achieve the listing target, Ahmad Zahid emphasised the need for strategic training in investor relations, corporate communications, and IPO preparation, alongside stronger industry collaboration. On micro, small, and medium enterprises (MSMEs), he noted that the sector contributes 97.4 per cent of all businesses in Malaysia, generating RM631.1 billion in GDP and RM152.2 billion in exports in 2023. However, challenges such as limited capital access and low competitiveness persist. He hopes the BRAVE programme will serve as a catalyst for MSME growth, addressing these barriers while fostering economic inclusivity. - Bernama
