Sarawak targets high-income economy by 2030

SARAWAK is targeting a high-income, sustainable and inclusive economy by 2030, with its 2027 Budget prioritising economic diversification, social protection and green energy development.

Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg said the proposed budget was guided by the theme “Together Building Prosperity and Securing Our Futures”, aligning the state’s fiscal strategy with the Post-COVID-19 Development Strategy 2030 (PCDS 2030).

He said the budget was designed not merely as a financial plan but as a roadmap to raise household incomes, strengthen the economy, protect vulnerable communities and create new revenue opportunities through sustainable development.

The five strategic goals include raising productivity and household incomes, strengthening social protection, improving fiscal resilience, positioning Sarawak as ASEAN’s green energy hub and generating new revenue from green industries.

A key focus is reducing dependence on a narrow range of commodities by expanding higher-value industries, digital technology, renewable energy and advanced manufacturing.

The state also aims to attract more domestic and foreign investment through a supportive regulatory and fiscal environment, while strengthening education, vocational training and workforce development to meet the needs of an evolving economy.

Under the framework, Sarawak will adopt an expansionary fiscal approach to stimulate economic growth and domestic demand through investments in infrastructure, education, research and development, innovation, digitalisation and environmental sustainability.

At the same time, the budget emphasises prudent spending, fiscal reforms and revenue diversification to strengthen the state’s financial position and ensure public funds deliver measurable benefits.

Bridging the development gap between urban and rural communities is another priority, alongside targeted welfare assistance to safeguard vulnerable households and improve livelihoods.

The nine strategic thrusts also cover natural resource conservation, culture, sports and youth development, technological advancement, public-sector performance and transparent financial management.

Abang Johari said the overall framework was intended to ensure that economic growth translated into broader prosperity, with employment opportunities, stronger human capital and more balanced development across Sarawak.

The budget also seeks to capitalise on climate-related market opportunities and sustainable value chains to create new revenue streams and green jobs.

The 2027 Budget sets out Sarawak’s strategic direction towards 2030, with economic transformation, fiscal sustainability and inclusive growth at the centre of its development agenda.