Sarawak aspires to emulate Bavaria

KUCHING: Sarawak aspires to become ‘Bavaria’ in Malaysia, a region with advanced and successful economics, propelling Malaysia forward.

Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg said Sarawak’s focus on green and renewable energy would be the mainstay of the state’s economy towards 2030 and beyond.

Green energy, he said, which means renewable and sustainable energy sources would be the driving force of many economic activities for now and the future.

“It is now the beginning of the end of our dependence on fossil fuels as the global energy sector’s shift from fossil-based systems of energy production and consumption — to renewable energy sources like hydro and solar.

“In other words, the era of fossil fuel is starting to end while green or clean energy is the new era, which we have considered when formulating policies for Sarawak,” he said.

Additionally, he said Sarawak is fortunate to be blessed with various resources and potential in renewable energy. Hence, his optimism towards achieving a high income economy by 2030.

Abang Johari assured that if Sarawak is prospering, Malaysia will be thriving as well, benefiting the nation as a whole.

“If Sarawak is prospering, Malaysia will be prospering. If Sarawak is stable, Malaysia will be stable. Just like Bavaria in Germany,” he said.

“Our target is to transform Sarawak to become ‘Bavaria’ in Malaysia,” he said, while pointing out that Bavaria is the largest state (in terms of size) in the Federal Republic of Germany and strongest economy in the region.

Although Sarawak has been demanding its rights under Malaysia Agreement 1963, including the return of Bintulu Port, Abang Johari assured that this would not affect the spirit of federalism as any economic growth in Sarawak – is expected to benefit Malaysia as well.

Abang Johari was delivering his keynote address at the ‘Malaysia Market Outlook 2024 — Propelling Malaysia Forward’ held at Menara Affin, Tun Razak Exchange in Kuala Lumpur today (Jan 30).

He also said Sarawak’s focus on green economy; embracing clean technologies and renewable energy sources was the right move to mitigate climate change which has been affecting every part of the world.

“Look at what’s happening (natural disasters due to climate change) around the world. Therefore, we need to move away from fossil fuels and adopt green energy, which is key to a safer, cleaner and sustainable world,” he explained.

Abang Johari said therefore, it is necessary for the financial sector, especially the banking industry, to emphasise environmental, social and governance (ESG) principles.

“This means that banking and financial institutions need to change their approach, especially in offering and approving loans – by prioritising businesses or products that are adopting or using green energy, to raise awareness on clean or green (business) operations or processes.

“This situation is expected to encourage more industries transitioning to renewable energy sources,” he added.

Deputy Premiers Datuk Amar Awang Tengah Ali Hasan and Datuk Amar Douglas Uggah Embas as well as Affin Bank Bhd president and group chief executive officer Datuk Wan Razly Abdullah were among those who attended the event.