Awg Tengah: Sarawak aspires to be regional leader in innovation, technology-driven economy - MIDA | Malaysian Investment Development Authority
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Awg Tengah: Sarawak aspires to be regional leader in innovation, technology-driven economy

Awg Tengah: Sarawak aspires to be regional leader in innovation, technology-driven economy

30 Nov 2023

Sarawak aspires to emerge as a regional leader in innovation and technology-driven economy, offering many opportunities in business, trade and leisure, said Deputy Premier Datuk Amar Awang Tengah Ali Hasan.

For that, he said Sarawak is putting efforts in promoting digital and green economy, leveraging on its renewable energy and decarbonisation solutions such as carbon trading and innovative climate mitigation and adaptation technologies.

“Sarawak’s strategic vision for growth reflects this commitment, charting a path toward sustainable development and equitable progress, aligning with global ESG (environmental, social and governance) standards and the United Nations Sustainable Development Goals,” he said during the closing of the Global Muslim Business Forum (GMBF) 2023 at the Borneo Convention Centre Kuching (BCCK) today.

Adding on, Awang Tengah, who is Minister for International Trade and Investment, said Sarawak had amended its Forest Ordinance and Land Code, and enacted the new Environment (Reduction of Greenhouse Gas Emissions) Ordinance 2023.

“These ordinances empower us to regulate, manage and promote activities related to carbon trading, carbon capture, utilisation and storage (CCUS) and nature businesses, making Sarawak the champion for this new economy in Malaysia.

“We aspire to shape a future through innovation to transform our economy toward prosperity, inclusivity and sustainability in line with our Post Covid-19 Development Strategy 2030,” he said.

Touching on the global Islamic economy, Awang Tengah said it is still relatively untapped.

“For instance, according to Adroit Market Research in November 2023, the value of halal market size is expected to reach close to US$3 trillion by 2029, with an annual growth rate of 5.6 per cent.

“The world economy is rapidly evolving. New economic sectors such as Digital Economy, Circular Economy, Artificial Intelligence, Hydrogen Economy, Sustainable Tourism and Precision Agriculture will be the catalysts for the next phase of economic growth.

“Therefore, all countries and the business communities need to forge strategic collaborations and partnerships to capitalise on these opportunities,” he said.

With a call for strategic collaborations and partnerships, he extended a warm invitation to entrepreneurs and investors to consider Sarawak as their preferred investment destination.

“With a robust infrastructure, supportive government policies, and a strategic position in Southeast Asia, Sarawak offers unique opportunities for your ventures,” he said.

On the forum themed at ‘Innovations and Transformation in Islamic Economies’, Awang Tengah, who is also GMBF 2023 Organising Committee chairman, said it has provided a platform for discussions on latest developments impacting the global economy, particularly the Muslim countries.

He believed that the forum has provided a key platform for all participants from different backgrounds to explore, learn and share innovative practices, challenges and opportunities in various economic sectors such as digital technology, green energy, finances and agriculture.

In this regard, he expressed gratitude to co-organisers namely KSI Strategic Institute for Asia Pacific, Islamic Chamber of Commerce, Industry and Agriculture (ICCIA) and Global One, for their pivotal role in bringing this forum to life.

He also thanked the dedicated team in Sarawak for their hard work and commitment in making the event a memorable and impactful one.

“Indeed, Sarawak is proud to host this forum here in Kuching, the City of Unity.

“I hope this forum has provided a venue for forming new networks and forging new pathways towards inclusive economic growth in the context of the Muslim World and beyond.

“On behalf of the Sarawak government, I express my sincere appreciation to everyone for your cooperation and support for this event. I hope through this event, you all have gained valuable insights into the business and trade opportunities in the global Muslim market and beyond,” he said.

Source: Borneo Post