DUBS needs to seize opportunities in Sarawak's new economy

KUCHING, 5 Oct: The Sarawak Chamber of Commerce (DUBS) must seize the new opportunities that have emerged as a result of Sarawak's economic development especially in technology-based and high value industry sectors.

Sarawak Prime Minister, Datuk Tinggi Tan Sri Abang Johari Tun Openg said entrepreneurs need to be more proactive in exploring new technologies, understanding the market potential and adapting businesses to growing economic needs.

"DUBS can see these potentials, where we are developing new business opportunities for DUBS entrepreneurs.

"But you have to explore and know something about that technology so we can see what it has to offer and put ourselves in this growing market", he said.

He said this while addressing a dinner on the occasion of 40th anniversary of the Bumiputera Sarawak Chamber of Entrepreneurs (DUBS) here, Sunday.

Brother Johari explained that the changing world economic landscape is now opening up more space for Sarawak entrepreneurs including in renewable energy, hydrogen, artificial intelligence (AI), semiconductors, agriculture and services.

He said the development of high-tech industries in Sarawak also requires local entrepreneurs to increase their respective capacities.

"We also need to train our entrepreneurs towards advanced manufacturing because this is a new era. Otherwise, we lose", he said.

According to him, Sarawak is now developing an economic ecosystem that not only attracts investment but also opens up opportunities for local businesses to grow together with new industries.

In the field of energy, for example, Sarawak aims to generate up to 10 gigawatts by 2030 and 15 gigawatts by 2035 which will be shared with Brunei Darussalam and Singapore in 2028.

Johari said that the development could create high-income employment opportunities and new value chains for local entrepreneurs.

At the same time, he said, the semiconductor sector also opens up space for locals to venture into chip design, manufacturing and related technologies.

He also stressed the importance of mastery of science and skills especially in STEM to ensure that local workforce is prepared to meet the economic needs of the future.

Brother Johari said that the development of human capital is in line with the efforts of the Sarawak Government to introduce free higher education from 2026, with the first group involving about 8,000 new students.

At the same time, he urged entrepreneurs to manage their businesses efficiently and always look ahead.

"Especially for young people who run their own companies, manage themselves well and be generous, look to the future and explore opportunities. The future lies with the young", he explained.

Meanwhile, Brother Johari also assured the Government of Sarawak that it will continue to support DUBS including providing new building facilities more tailored and reflecting the aspirations and qualities of the organization.