//
you're reading...
Borneo, Kuching, Sarawak, Sarawak Corridor of Renewable Energy (SCORE), Sarawak Economy, Sarawak Politics

SCORE to have positive impact on SMEs

THE Sarawak Chamber of Commerce and Industry (SCCI) is confident that the Sarawak Corridor of Renewable Energy (SCORE) will have a strong positive impact on many sectors of the State’s economy.

SCCI president Datuk Abang Abdul Karim Tun Abang Openg said SCORE will likely benefit surrounding small and medium enterprises (SMEs) as well as supporting sectors such as the services and tourism industry.

Now SCCI is basically a grouping of Sarawak’s many companies. With regional all over the State, it really does reflect the voices of the business community.

So it augurs well that they are positive about SCORE.

“To achieve competitiveness, the SCORE project is deemed critical. Since its announcement, it had attracted an inflow of investments into the area,” Datuk Abang Karim is quoted as saying during SCCI’s 60th annual dinner.

Last month, the property sector also announced that it was upbeat about the opportunities created by SCORE.

The Sarawak Housing and Real Estate Developers’ Association (Sheda) actually said that its members feel insulated from the economic crisis faced in Europe and the US! Which is probably why everywhere you go, there are new construction projects for houses and commercial developments.

While the world is talking about a slowdown, it is reassuring to see so much positive development going on in Sarawak.

The report from The Borneo Post:

Positive outlook on SCORE, S’wak Budget 2012 — SCCI

By Chai Li Ting

KUCHING: The State 2012 Budget is expected to emulate its national counterpart as the ‘Rakyat’s Budget’ and skewed to be critical to the development of the state, along with the success of the Sarawak Corridor of Renewable Energy (SCORE).

The president of Sarawak Chamber of Commerce and Industry (SCCI) Datuk Abang Abdul Karim Tun Abang Openg stated this at the association’s recently-held 60th annual dinner.

“Budget 2012 has allocated substantial funds to support the expansion and development of small and medium enterprises (SMEs), believing that they would play a significant role in the socio-economic development of the country,” he said, hoping that the upcoming state budget would also be as business-friendly.

Abang Abdul Karim made such remarks during the event, which celebrated outstanding entrepreneurs and companies with the best corporate reporting in the state throughout this year.

The awards were sponsored by the Ministry of Industrial Development in collaboration with Ernst and Young Malaysia, which acted as the secretariat for the award event.

Despite a number of existing economic concerns, Abang Abdul Karim believed that the government would be addressing this in the coming year to avoid it from happening for a 16th consecutive year.

“The GDP for Malaysia was expected to grow at five to 5.5 per cent this year, and five to six per cent next year due to moderate global economic growth, along with sustainable intra-regional trade and investments, which somewhat offset the sluggish growth in major advanced economics,” he stated.

Efforts to mitigate volatile economic changes might not be effective, said Abang Abdul Karim, seeing that Malaysia was a major world trading nation. However, he further urged attendees to innovate and remain competitive to stay relevant on the global stage.

“To achieve competitiveness, the SCORE project is deemed critical. Since its announcement, it had attracted an inflow of investments into the area.”

Intended to focus on mega projects with high energy and technical input, Abang Abdul Karim noted that its implementation would also have a strong and positive impact on surrounding SMEs as well as supporting sectors such as the services and tourism industry.

Advertisements

Discussion

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Categories

%d bloggers like this: