The proposed Sarawak Economic Development Corporation (SEDC) (Amendment) Bill 2026 is aimed at modernising and strengthening the legislative framework governing the state economic corporation in line with Sarawak’s evolving economic aspirations.
Deputy Premier Datuk Amar Douglas Uggah Embas said the amendment was necessary to ensure the corporation remains responsive, relevant and capable of supporting Sarawak’s future development agenda.
He said the legislative framework governing the corporation and its predecessor entity had supported Sarawak’s economic growth for nearly seven decades since it was first introduced in 1957.
“However, the reality before us today is clear. Sarawak has evolved, our economy has transformed and our ambitions have grown far beyond what could have been envisioned when the legislation was first introduced,” he said when tabling the Bill during the Sarawak Legislative Assembly (DUN) sitting today (May 12).
Uggah noted that under the leadership of Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg, rapid development and transformation in the state had prompted a review of the principal ordinance to align the corporation with Sarawak’s current aspirations.
He stressed that the amendment Bill was not merely an exercise in legislative housekeeping, but a timely move to strengthen the corporation’s role in driving economic growth.
Among the key changes proposed is the renaming of the Principal Ordinance to the Sarawak Economic Development Corporation Ordinance.
Uggah said the change reflects greater identity, clarity and recognition, while aligning the law with the corporation’s widely recognised name locally and internationally.
The Bill also proposes updates to key definitions to reflect modern governance practices, including replacing the title “General Manager” with “Group Chief Executive Officer”.
He said the move acknowledges the corporation’s expanded role as a complex organisation overseeing multiple subsidiaries and commercial interests.
“This sends a clear message that the corporation is serious about adopting global standards, enhancing professionalism and strengthening confidence among investors, partners and stakeholders,” he said.
The Bill also introduces a formal definition for the role of “Secretary”, which was previously referenced in the ordinance without a specific definition.
According to Uggah, the new provision for the appointment and functions of the Secretary will strengthen accountability, enhance transparency and reinforce sound governance practices within the corporation.
The Bill further proposes the reconstitution of the corporation’s membership by broadening the scope to include expertise from “any other relevant field”.
He said this would allow the corporation to draw from a wider pool of talent and knowledge to remain adaptive in an increasingly complex economic landscape.
In addition, the amendment enhances the corporation’s powers, particularly in relation to the incorporation and establishment of companies.
“If we expect the corporation to compete, to invest and to drive economic growth, then we must ensure that it has the legal clarity and flexibility to do so effectively,” he said.
