KUCHING: Local communities are being positioned as equity partners under the new business model adopted for the Greater Bau development initiative, marking a shift towards inclusive and sustainable growth.
Deputy Minister of Transport Datuk Henry Harry Jinep said the model ensures that the locals are no longer mere bystanders in development projects, but direct beneficiaries with ownership stakes in economic ventures implemented in the Bau district.
He said the development initiative is not just about physical infrastructure or attracting investors, but about ensuring that the people of Bau are given equity and a sense of ownership in projects carried out in their area.
The Tasik Biru assemblyman explained that the equity participation approach allows communities to own properties or assets, from which they can earn income in the form of rental, and utilised the money to help their communities in whatever ways they desire.
He said that when they developed the Greater Bau Master Plan 2030 for the state government’s approval, he had decided to change the business model starting from the development of Tasik Biru Resort City.
Under the new business model, he had decided to do away with gold mining and quarry activities.
“Its a well-known fact that the oldest and the biggest gold mining activities in Sarawak took place in Bau, but what did the Bumiputera got from gold mining?
“They only earn salaries as odd workers; not even one Bidayuh engineer was produced from the gold mining activity.”
Henry said under the new business plan the Bidayuh, the Malay and the Chinese communities had equity from the development taking place within the vicinity of Tasik Biru.
He said the Bidayuh had two units of shoplots, while the Malay and the Chinese had one unit each.
“The Bidayuh got two, one from Phase 1 and another from Phase 2, because the Bidyauh made up 70 percent of the population in Bau.
“From the Phase 1 project, only the Bidayuh and the Malay communities will get it while the Chinese will get their unit under Phase 2,” he explained.
Henry said the equity would be managed by the respective community’s association, adding that the Bidayuh’s equity would be managed by the Dayak Bidayuh National Association (DBNA).
He said the current market price of each unit is RM1 million and that the community can earn long-term returns through rental.
How the community is going to spend the money is up to the respective association, he said.
For the Bidayuh, he said the money that will be collected from the rental is mainly for education purposes, adding that they want to use the money to support the Bidayuh in Bau to pursue their education to the higher learning institutions.
“This is the new business model I have adopted for the benefit of the community. If we don’t do this, and if there is no equity given to the community, we will only watch the development happen around us.
This is what I have done for Tasik Biru Resort City,” he said.
Henry said the new business model could also help to address long-standing issues related to land use and economic disparity by aligning the interests of developers and local residents.
“When the people have a stake in the project, they will protect it, support it and ensure its success. This creates a win-win situation for all parties involved,” he said.
