Sarawak Business Summit
SARAWAK BUSINESS SUMMIT 2014
Turning Sarawak into the New Business Hub of Malaysia
13 November 2014
Imperial Hotel, Kuching, Sarawak
Sarawak, known as Bumi Kenyalang (Land of the Hornbills) has gone through rapid socio-economic development over the last few decades.
Sarawak’s economy has traditionally been based on mining, agriculture and forestry, but the state is diversifying its economy through the Sarawak Corridor of Renewable Energy (SCORE) to spearhead Sarawak’s growth over the next 20 years. This massive project is expected to create about 1.5 million jobs in various new industries such as in high-tech and renewable-energy activities as part of the effort to transform Sarawak into a high-income economy by 2030. This will create many new investment and business opportunities that investors and business community can tap into. SCORE has already attracted several billions of US dollars in investments and is expected to help boost Sarawak’s GDP growth to 10% per year.
This Summit will examine some of the key drivers that will drive Sarawak towards massive economic development in order to achieve its goal to be a high-income economy by 2030. As the largest state in Malaysia, Sarawak has enjoyed the advantage of vast natural resources and unique natural and cultural tourist attractions.
Furthermore Sarawak is located in a strategic location within the ASEAN region and surrounded
by many good seaports. When these advantages have been fully developed, Sarawak may just be the next new economic powerhouse of Malaysia by 2030.
However, the rapid economic development in Sarawak has also placed a great demand for well-trained human capital in the state. By 2030, the demand for semi-skilled workers is expected to increase from 35% to 50%. Furthermore, the current economic activities, namely in agriculture, manufacturing and tourism will also continue to grow and will demand more well trained and knowledgeable professionals.
Therefore, this Summit aims to bring together stakeholders such as policy makers, economists, corporate leaders and state leaders with strong interest in Sarawak to share their views and observations on key issues in the development of the state of Sarawak. Participants will also learn from the experts which are the new industries and sectors to watch out for in the near future.