Premier: Sarawak strengthening key economic fundamentals for continuous growth

KUCHING (Jan 16): Sarawak is strengthening key economic fundamentals to support sustained, long-term growth as it prepares to enter the Year of the Horse, said Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg.

He said Sarawak’s development direction is firmly focused on building a more competitive, resilient, and inclusive economy.

“What attracts long-term investment is not only incentives, but fundamentals — infrastructure, talent, governance, and a stable operating environment,” he said in his speech for the Affin Chinese New Year Dinner here on Thursday.

Deputy Premier Datuk Amar Douglas Uggah Embas delivered the speech.

Abang Johari said while Sarawak recorded RM198.7 billion in total trade in 2024, with a RM71.1 billion trade surplus, the encouraging numbers were no reason for complacency.

“These are positive indicators, but they are also a reminder that we must stay focused, keep improving, and continue earning confidence through delivery,” he said.

He added that sustained investor confidence remains a priority, noting that Sarawak attracted RM105.9 billion in investments from 2021 to the third quarter of 2025.

He stressed the importance of financial infrastructure in supporting modern economies.

“Modern economies are not built on physical infrastructure alone.

“They are also built on the strength of financial infrastructure — the ability to mobilise capital productively and widen participation so more people and businesses can benefit from growth,” he said.

He described financial institutions as key partners in Sarawak’s development, saying they play a crucial role in enabling small and medium enterprises to expand and in strengthening household and community resilience.

“Financial institutions are not merely service providers, they are partners in building confidence and supporting trade and investment activity,” he said.

Acknowledging Affin’s role in Sarawak’s financial ecosystem, Abang Johari said future-ready institutions are defined by responsiveness, discipline, and commitment to customers.

“In the end, trust is built through steady delivery, consistent standards, and real presence in the community,” he said.

He also welcomed Affin’s recognition by international and sustainability benchmarks, noting that Moody’s affirmation of the Group’s ‘A3’ rating and its upgrade to a four-star FTSE4Good Environmental, Social, and Governance (ESG) rating reflect growing confidence in the institution.

Looking ahead, he said Sarawak’s progress will be strengthened through continued alignment between the public and private sectors.

“Our shared goal is to build long-term value that creates jobs, strengthens capabilities, and improves daily life for more people across our state,” he added.

Among those present were Yang di-Pertua Negeri Sarawak Tun Pehin Sri Dr Wan Junaidi Tuanku Jaafar and Toh Puan Datuk Patinggi Fauziah Mohd Sanusi; as well as Minister for Tourism, Creative Industry and Performing Arts Dato Sri Abdul Karim Rahman Hamzah.