ID :
201311
Mon, 08/15/2011 - 09:56
Auther :
Shortlink :
https://oananews.org//node/201311
The shortlink copeid
MANUFACTURING TO SPEARHEAD SARAWAK'S ECONOMIC TRANSFORMATION
KUALA LUMPUR, Aug 15 (Bernama) -- The manufacturing sector will spearhead East Malaysia state of Sarawak's transformation into a knowledge-based economy, characterised by more value-added activities in line with objectives of the Sarawak Corridor of Renewable Energy (SCORE), says Chief Minister Abdul Taib Mahmud.
He told global publishing, research and consultancy firm, Oxford Business Group (OBG), that the first phase of SCORE had surpassed expectations, having successfully put in place the foundations to attract investors for a list of earmarked priority industries and projects.
In a statement on Monday, OBG quoted Taib as saying that the private sector’s role in the state’s economic development would, over time, increase.
The corridor is one of the government’s major initiatives aimed at
transforming Sarawak into a developed State by 2020.
"SCORE has attracted tremendous interest from both local and foreign investors.
"Now that the basic infrastructure facilities in Sarawak are sufficient, greater attention can be focused on building the industrial base of the economy by expanding the range of industrial activities to move up the value chain and to connect with the global supply chain," he said.
Taib said the initiative would lend itself to the creation of high-income employment opportunities generated naturally by knowledge-driven activities, helping the state to avoid the brain drain it has experienced in the past.
He said since the best career opportunities are created by heavy private sector investments, engaging the private sector to ensure they see Sarawak as an attractive investment destination remains one of the state's first priorities.
"It is estimated that 52 percent of the employment opportunities will be created as SCORE develops skilled labour positions and will be centred increasingly on knowledge-driven activities that will, by their very nature, be high-income jobs," he said.
Taib said Sarawak’s natural resources, together with its huge potential for hydro-power, would provide the launch pad for the state’s economic development
plan.
He said Sarawak’s ability to generate hydro-power should give the state a competitive edge as it looks to attract and develop energy-intensive industries.
"The timing of the state's development plan was opportune, given that industrial firms were seeking alternatives to fossil fuels.
"With the price of oil and gas continuing to increase, this gives us a tremendous boost in making our renewable energy source much more attractive to investors," he added.
The full interview with Taib appears in The Report: Sarawak 2011,
OBG’s forthcoming guide on the state’s economic activities and investment opportunities.
He told global publishing, research and consultancy firm, Oxford Business Group (OBG), that the first phase of SCORE had surpassed expectations, having successfully put in place the foundations to attract investors for a list of earmarked priority industries and projects.
In a statement on Monday, OBG quoted Taib as saying that the private sector’s role in the state’s economic development would, over time, increase.
The corridor is one of the government’s major initiatives aimed at
transforming Sarawak into a developed State by 2020.
"SCORE has attracted tremendous interest from both local and foreign investors.
"Now that the basic infrastructure facilities in Sarawak are sufficient, greater attention can be focused on building the industrial base of the economy by expanding the range of industrial activities to move up the value chain and to connect with the global supply chain," he said.
Taib said the initiative would lend itself to the creation of high-income employment opportunities generated naturally by knowledge-driven activities, helping the state to avoid the brain drain it has experienced in the past.
He said since the best career opportunities are created by heavy private sector investments, engaging the private sector to ensure they see Sarawak as an attractive investment destination remains one of the state's first priorities.
"It is estimated that 52 percent of the employment opportunities will be created as SCORE develops skilled labour positions and will be centred increasingly on knowledge-driven activities that will, by their very nature, be high-income jobs," he said.
Taib said Sarawak’s natural resources, together with its huge potential for hydro-power, would provide the launch pad for the state’s economic development
plan.
He said Sarawak’s ability to generate hydro-power should give the state a competitive edge as it looks to attract and develop energy-intensive industries.
"The timing of the state's development plan was opportune, given that industrial firms were seeking alternatives to fossil fuels.
"With the price of oil and gas continuing to increase, this gives us a tremendous boost in making our renewable energy source much more attractive to investors," he added.
The full interview with Taib appears in The Report: Sarawak 2011,
OBG’s forthcoming guide on the state’s economic activities and investment opportunities.
