KUCHING: Sarawak has urged the federal government to review existing incentives to attract more investment into emerging industries, particularly hydrogen production and semiconductor manufacturing.
The move is aimed at accelerating Malaysia’s transition towards a green and innovation-driven economy, while enhancing the nation’s competitiveness in high-growth industries of the future.
Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg said strategic incentives would help accelerate investment in sectors that are expected to drive future economic growth while generating long-term tax revenue for the country.
“Because of the ongoing economic transition, perhaps the Prime Minister can review the incentives that can be provided by the government to attract investments in the new economy.
“This is especially important for materials used in hydrogen production and semiconductor-related industries that can further boost these sectors. In the end, they will develop into manufacturing industries capable of generating returns through taxes for the country,” he said in his speech at the state-level Gawai Dayak Dinner here on Sunday (Jun 21).
Also present were Prime Minister Datuk Seri Anwar Ibrahim, Head of State Tun Pehin Sri Dr Wan Junaidi Tuanku Jaafar and his wife, Toh Puan Datuk Patinggi Fauziah Mohd Sanusi.
Abang Johari said Sarawak is well-positioned to capitalise on the global economic shift through investments in green energy, environmental sustainability and advanced manufacturing.
He said that Bintulu has been recognised by the World Economic Forum as a Transitioning Industrial Cluster (TIC), placing Sarawak among a select group of industrial clusters globally that are driving the transition towards low-carbon development.
“Through close cooperation among all parties, we can continue strengthening our economy based on green energy and environmental sustainability.
“We can also support and develop advanced manufacturing, whether in the semiconductor sector or clean energy industries,” he said.
Abang Johari added that Sarawak’s efforts in renewable energy development could help elevate Malaysia’s position as a major economic force within ASEAN and potentially become a key energy supplier to countries across the region.
He also expressed appreciation to the federal government for its cooperation in facilitating Sarawak’s development agenda, citing the transfer of Bintulu Port to the Sarawak Government as an example of successful collaboration between Putrajaya and the state administration.
According to him, political stability and strong federal-state relations have enabled leaders to focus on attracting investments and implementing long-term development plans for the benefit of the people.
“With the opportunities before us, I believe our future is bright,” he said.
