Borneo needs to build a different center of excellence

KUCHING, Oct 7: Borneo does not need to rely on one industrial hub to drive economic growth, instead it needs to develop a centre of excellence with different complementary expertise.

Sarawak's Prime Minister, Datuk Seri Tan Sri Abang Johari Tun Openg said that the approach was essential to form a more integrated Borneo economy by harnessing the strength and capabilities of each province.

"This is what it means for Borneo's economy to be integrated, not an industrial hub for the whole island, but a different centre of excellence and work together to create greater value for Borneo", he said as he inaugurated the Second Borneo Economic Forum here today.

According to Brother Johari, the relationship between the centres of excellence should be seen as an ecosystem that enables economic activity to move across regional boundaries more effectively.

In this regard, he said cooperation between the private sector, government and investors should be strengthened to identify opportunities and build partnerships that can expand trade, investment and economic ties across Borneo.

"At the same time, we will continue to explore opportunities for cooperation in Borneo and with wider ASEAN partners, where our strengths and interests can complement each other", he said.

The Second Borneo Economic Forum was held on 7 to 8 October under the theme 'Shaping the Future of Borneo', bringing together government leaders, industry players, investors and business communities to discuss opportunities and economic challenges in the Borneo region.