Net zero initiatives to bring economic boost

KOTA SAMARAHAN: Sarawak is taking the lead in net zero efforts, promising an economic boost for the ringgit and a sustainable future.

Deputy Premier Datuk Amar Dr Sim Kui Hian noted that Sarawak is set to receive investment from South Korea by 2050, forecasting an RM2.3 trillion influx.

He expressed optimism that this will help to strengthen Malaysia’s currency.

“If Sarawak thrives, so does Malaysia. With RM2.3 trillion coming into Sarawak, the ringgit will strengthen. When that happens, won’t your food be cheaper?

“How many Sarawakians are in Malaysia? 3 million. How many Malaysians? 33 million. Aren’t these 3 million people saving you? So they should be happy with us,” he said.

He said this during a Memorandum of Understanding (MOU) signing ceremony between Kota Samarahan Municipal Council (MPKS) and the United Nations Children’s Fund at the Training Room, MPKS Library today.

Dr Sim, who is also the Public Health, Housing, and Local Government Minister, stressed the critical importance of net zero initiatives, positioning Sarawak as a regional leader in climate action and sustainability.

He added that Sarawak possesses a unique capability in carbon capture and storage, stating that while the oil and gas sector has historically driven significant revenue, the future’s wealth lies in combating climate change.

Net zero, he asserted, is not just an environmental imperative; it’s a lucrative economic opportunity.

“Oil and gas is old news. The biggest investment, the biggest money, is to address climate change through the net zero industry.

“Sarawak is in a unique position. We are the only place in this region that can do carbon capture and storage. And I want to highlight to all of you, so you know, oil and gas is a lot of money. But net zero, even more money,” he said.