Sarawak aspires to achieve high income and developed state status by 2030. It’s now implementing the Socio-Economic Transformation Plan (2016-2030) to accelerate its economic development driven by Sarawak Corridor of Renewable Energy (SCORE).
Under the SCORE development plan, 10 priority industries have been identified:
- oil-based industry
- aluminium-based industry
- steel and other metal-based industries
- solar-based industry
- marine engineering industry
- palm oil-based industry
- forestry and timber-based industry
- livestock industry
- aquaculture and fisheries
- tourism focused on new hydro-power lakes.
Out of the 10 priority industries, four are considered as the trigger industries: oil-based industry, aluminium-based industry, steel as well as other metal-based industries and solar-based industry.
The development of SCORE will leverage on Sarawak’s clean and renewable energy potential totalling 20,000 MW to meet the needs of heavy and energy intensive industries. Currently, the industries that are already investing in Samalaju Industrial Park, the centre for heavy and energy intensive industry in the SCORE development area are aluminium smelter, polycrystalline silicon and ferroalloys.
These industries are creating vast investment opportunities especially in the downstream manufacturing industries in the area of building materials and components, heavy industry and metal, renewable energy products and transportation.
With a vast tract of land suitable for agriculture and aquaculture activities, SCORE’s also offering opportunities for the development in the Halal industries both upstream and downstream activities especially in Tanjung Manis Halal Hub. The development of Tanjung Manis Halal Hub in the SCORE development area is also a major positioning for Sarawak in the global Islamic world.
Sarawak’s also taking a big step to be a part of the digital economy that’ll create new opportunities especially for its young people and make its local economy more accessible for everyone. It welcomes new opportunities and business ventures that create employment, invests in projects that are very competitive and high-tech ventures where talent is the major driving force.
REASONS WHY YOU SHOULD INVEST IN SARAWAK
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