Sarawak seen as major growth driver

Sarawak seen as major growth driver
Click to enlarge

The Malaysian state of Sarawak is to emerge as a main contributor to the nation’s growth by 2015, a study by Kuala Lumpur-based financial services firm Kenanga Investment has said.

Sarawak has increasingly become the focus of major economic developments, the study pointed out, with the Sarawak Corridor of Renewable Energy (Score) being one of the most significant projects in the region.

“With Score driving Sarawak’s economy, the state aims to achieve gross domestic product (GDP) growth of up to 10 per cent by 2015 compared to below five per cent without it,” the study said.

“At the rate the Sarawak economy is going, the state could be among the top three largest contributors to Malaysia’s economic growth in the next few years,” it said.

Kenanga said Sarawak’s contribution towards Malaysia’s total GDP could increase to slightly more than 10 per cent from its current 7.5 to 8 per cent share.

“Sarawak is moving in the right direction as it will soon hit the half-way mark of the five-year 10th Malaysia Plan which began in 2010,” the study said.

Budget allocations under the 10th Plan are being channelled towards improving infrastructures, particularly transportation, managing urbanisation and developing Sarawak into an energy development hub.

“With Score, we believe Sarawak could exceed growth by five to six per cent by 2015, possibly outpacing the projected average six per cent national growth,” the investment firm added.

 



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[caption id="attachment_6932" align="alignleft" width="300"] Click to enlarge[/caption] The Malaysian state of Sarawak is to emerge as a main contributor to the nation’s growth by 2015, a study by Kuala Lumpur-based financial services firm Kenanga Investment has said. Sarawak has increasingly become the focus of major economic developments, the study pointed out, with the Sarawak Corridor of Renewable Energy (Score) being one of the most significant projects in the region. “With Score driving Sarawak’s economy, the state aims to achieve gross domestic product (GDP) growth of up to 10 per cent by 2015 compared to below five per cent without it,"...

Sarawak seen as major growth driver
Click to enlarge

The Malaysian state of Sarawak is to emerge as a main contributor to the nation’s growth by 2015, a study by Kuala Lumpur-based financial services firm Kenanga Investment has said.

Sarawak has increasingly become the focus of major economic developments, the study pointed out, with the Sarawak Corridor of Renewable Energy (Score) being one of the most significant projects in the region.

“With Score driving Sarawak’s economy, the state aims to achieve gross domestic product (GDP) growth of up to 10 per cent by 2015 compared to below five per cent without it,” the study said.

“At the rate the Sarawak economy is going, the state could be among the top three largest contributors to Malaysia’s economic growth in the next few years,” it said.

Kenanga said Sarawak’s contribution towards Malaysia’s total GDP could increase to slightly more than 10 per cent from its current 7.5 to 8 per cent share.

“Sarawak is moving in the right direction as it will soon hit the half-way mark of the five-year 10th Malaysia Plan which began in 2010,” the study said.

Budget allocations under the 10th Plan are being channelled towards improving infrastructures, particularly transportation, managing urbanisation and developing Sarawak into an energy development hub.

“With Score, we believe Sarawak could exceed growth by five to six per cent by 2015, possibly outpacing the projected average six per cent national growth,” the investment firm added.

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

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Personal Info

Donation Total: $10.00

 

 

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