Lee on what ensures Sarawak’s economic future

MIRI: Sarawak is entering a new era of economic transformation driven by stronger connectivity, political stability and greater participation by local businesses in strategic industries, Transport Minister Datuk Seri Lee Kim Shin said.
 
Speaking at the Sarawak Day 63rd anniversary dinner, Dewan Usahawan Bumiputera Sarawak (DUBS) 40th anniversary and Gawaiappreciation night on Jul 26, Lee said Sarawakian entrepreneurs must seize the opportunities emerging from the state’s rapidly expanding economy.
 
He said the development agenda, anchored by the Post COVID-19 Development Strategy (PCDS) 2030, was creating unprecedented prospects across technology, renewable energy, logistics, digital services, advanced manufacturing, green industries and the professional services sector.
 
“The next generation of successful Sarawakian companies will not simply sell products. They will deliver technology, innovation, professional expertise and world-class services while becoming regional champions,” he said.
 
Lee said the Sarawak government had laid a solid foundation for long-term economic growth through strategic investments in infrastructure, digitalisation, renewable energy, the hydrogen economy, food security and education.
 
He said these initiatives were strengthening Sarawak’s competitiveness while attracting increasing international investment.
 
Highlighting the state’s transport agenda, Lee described the establishment of AirBorneo as a strategic game changer that would improve connectivity, lower airfares and enhance access between Sarawak, Malaya and regional destinations.
 
“Affordable and reliable air connectivity is essential for economic growth. Better connectivity boosts tourism, facilitates trade, attracts investment and strengthens family and business ties,” he said.
 
Lee said connectivity today extended beyond transporting people, serving instead as a catalyst for investment, commerce and regional integration.
 
On Sarawak’s energy sector, he said the recent discovery of an estimated 800 million barrels of recoverable oil resources in Marudi further demonstrated the state’s enormous economic potential.
 
However, he stressed that the true value of the discovery would depend on how Sarawak managed and leveraged its natural resources.
 
Through PETROS and greater state participation in the oil and gas industry Sarawak is ensuring more economic value remained within the state, creating wider business opportunities for local companies throughout the supply chain.
 
“This is more than an oil discovery. It is an opportunity for Sarawakian businesses to participate directly in the state’s next phase of economic growth,” he said.
 
Lee also cited Sarawak’s political stability as one of its strongest competitive advantages, saying consistent policies and long-term planning had strengthened investor confidence and generated billions of ringgit in investments.
 
“These investments create jobs, stimulate industries, strengthen SMEs and improve the quality of life of our people,” he said.
 
He urged Sarawakians to continue safeguarding the state’s harmony and unity, describing them as essential foundations for sustainable development and continued investor confidence.
 
Congratulating DUBS on its 40 years of empowering Bumiputera entrepreneurs, Lee encouraged the organisation to continue nurturing future business leaders capable of embracing digitalisation, artificial intelligence, automation, green technology and international markets.
 
“The future belongs to entrepreneurs who innovate, collaborate and continuously adapt to changing market demands,” he said.
 
Among those present were Miri Mayor Adam Yii Siew Sang and DUBS Miri chairman Mohamad Hafidz Rohani, alongside community leaders and members of the business fraternity.