Wong lauds RM1.5 bln Sibu economic zone

KUCHING: The proposed Sibu Special Economic Zone, backed by a RM1.5 billion allocation, presents a significant opportunity to revitalise the town’s economy, attract new investments and strengthen its position as a major commercial centre in central Sarawak.

Bawang Assan assemblyman Datuk Seri Wong Soon Koh said the initiative could create more employment opportunities, strengthen local businesses and improve incomes for the people of Sibu if implemented effectively.

In a statement following the presentation of the State Budget 2027 by Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg today (Oct 12), he expressed appreciation for the Premier’s commitment to developing Sibu through the proposed economic zone.

“I hope that this initiative will be implemented with clear priorities, effective coordination and measurable targets, so that the allocation will translate into real investments, more jobs, stronger local businesses and higher incomes for the people of Sibu,” he said.

Wong, who served in the Sarawak government for many years, including as Finance Minister for about 20 years, congratulated Abang Johari on the budget, commending its emphasis on economic development, financial stability, infrastructure improvement and the well-being of Sarawakians.

He said the preparation of a state budget required sound financial management, clear vision, careful planning and the willingness to make difficult decisions in the interests of the people.

Wong also praised Abang Johari’s leadership in positioning Sarawak as an increasingly prominent player in the regional and international economy, particularly in renewable energy, green technology, hydrogen development, digital transformation and sustainable industrialisation.

He said the state’s natural advantages, energy resources and strategic geographical position had created opportunities to attract global investment and establish stronger economic partnerships.

He added that the 2027 budget should be viewed not merely as an annual statement of revenue and expenditure, but as an instrument to translate the state’s development vision into tangible benefits for the people.

Wong welcomed the continued emphasis on infrastructure development, particularly in rural areas, where roads, bridges, electricity, clean water and telecommunications remained essential to improving living standards and expanding economic opportunities.

He also highlighted the importance of investment, industrial development, renewable energy and digital transformation in strengthening Sarawak’s economic foundations and creating better employment prospects for younger generations.

Education, agriculture, tourism and small and medium-sized enterprises are equally important, particularly for Sibu and its surrounding areas, where more opportunities are needed to encourage entrepreneurship and enable young people to build their futures in Sarawak, he said.

At the same time, Wong stressed that development ambitions must be balanced with fiscal prudence to ensure public funds were spent wisely, projects remained economically viable and programmes delivered value for money.

Drawing on his experience in the Finance Ministry, he said sound financial management, fiscal discipline and long-term planning were fundamental to sustainable development and safeguarding Sarawak’s financial position for future generations.

He added that international recognition and investment must ultimately translate into better livelihoods and ensure that the benefits of economic growth were shared by the people.

Wong said the success of the budget should therefore be measured by tangible outcomes, including improved living standards, better infrastructure for rural communities, more competitive businesses and greater opportunities for young people.

He expressed support for the state government’s development agenda, saying effective implementation would be crucial to turning the budget’s allocations and policies into lasting progress for communities across Sarawak.

He said Sarawak had an opportunity to strengthen its position as a leading economic force in the region through visionary leadership, prudent financial management and collective commitment to inclusive and sustainable development.