Sarawak expects more than RM100 billion capital injection in eight years - Abang Jo

16/08/2022 06:47 PM

KUCHING, Aug 16 (Bernama) -- Sarawak is expected to see more than RM100 billion injection of capital into the state’s economy in the next eight years as it moves towards becoming a developed state by 2030.

Sarawak Premier Tan Sri Abang Johari Tun Openg said the amount which is expected to come from the government and private sector is higher than the initial target of RM64 billion before.

“As of now, I feel that our RM64 billion estimation is very conservative because the Sarawak Energy Bhd (SEB) alone is going to put RM40 billion up to the year 2026.

“That is only SEB and we have not included the investments in our hydrogen plant from Sumitomo as well as Samsung which will be a few billion ringgit (more),” he said at the signing ceremony of the Memorandum of Understanding (MoU) between the Construction Industry Development Board (CIDB) and the SEB here today.

Under the MoU, both parties would collaborate in capacity-building programmes for skilled construction personnel and enhance the adoption of construction best practices in Sarawak.

Meanwhile, Abang Johari said the enhancement of Sarawak’s local skill pool will pay great dividends for the state infrastructure developments.

He said there were vast developments taking place across the state, which require a skilled and competent Sarawakian workforce to meet the workforce demand and to ensure timely delivery of the development projects.

“This need was made very evident during the COVID-19 pandemic when we faced a significant shortage of workers due to non-arrival of foreign workers caused by COVID-related restrictions and this has led to project delays.

“The training of local workers will prevent such delays from happening again in the event of a future crisis of similar nature, as we will be fully prepared with a sufficient local competent workforce,” he added.