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Last Update: 26 May 2018
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STATE INITIATIES FOR ECONOMIC GROWTHSTATE INITIATIES FOR ECONOMIC GROWTH

    

        Sarawak’s rich natural resources have contributed significantly to the economic growth of the State. In recent years, the State’s economy has seen a sectoral shift from primary to secondary and tertiary sectors, focusing on high value-added activities in the manufacturing, agriculture and service sectors. This has also added to the State’s GDP which has managed to achieve positive growths during the past decade.

        The backbone to support the State’s strong economic growth has been two major Government initiatives. These are the Sarawak Industrial Development Plan (SIDP) and the Sarawak Corridor of Renewable Energy (SCORE). SIDP identifies industries with good investment potentials for development and employs the cluster approach to promote these industries while SCORE’s main objective is to develop the Central Region of Sarawak and spearheaded by the manufacturing, construction and services sectors. Given these two economic plans, prudent economic management and general political stability, the State’s economic foundation is expected to remain strong and resilient to external changes.

        Under the SIDP, the State has identified its rich natural resources to be capable of sustaining resource-based industries and providing great opportunities for growth in value-added processing ventures. One such industry is timber as the State is one of the world's largest exporters of tropical hardwood timber. The State government, in its efforts to promote higher value-added timber processing activities, has put in place the Log Export Restriction Policy. To further promote downstream processing, several industrial areas primarily designed to meet the requirements of integrated timber based operations have been developed in Sarawak.

        Sarawak is also well-endowed with both metallic and non-metallic mineral resources for downstream processing. Resources such as silica sand, kaolinitic clay and coal provide vast potential for value-added processing. Good quality kaolinitic and ball clay deposits suitable for use in the manufacture of paper and ceramic products are also found in Sarawak.

        Sarawak's vast reserves of natural resources, largely untapped, are also a source of promising opportunities in the field of biotechnology. Its forest resources, which are home to exotic species, may yet prove to be a major source of exciting discoveries in biotechnology.

         Hence, there are vast opportunities for investment in resource-based industries such as petroleum, petrol-chemical, agro-based, bio-tech and forestry related industries. The promoted clusters of investment are in:

  1. Resource Based cluster
    • Wood Based
    • Agro-Based & Food Processing
    • Petrochemical & Gas
    • Palm Oil Based
    • Advance Ceramics
    • Biotechnology
  2. Non-Resource Based clusters
    • Shipbuilding
    • Electrical & Electronics