KUCHING, 10 November 2026: Sarawak’s industrial transition will depend on the ability to finance major projects, develop local talent and improve sustainability across the industrial value chain, Premier of Sarawak Datuk Patinggi Tan Sri (Dr) Abang Haji Abdul Rahman Zohari bin Tun Datuk Abang Haji Openg said during a fireside chat in Kuching.
The session took place at Powering Forward: Financing Sarawak’s Industrial Transition, a forum held by the British Malaysian Chamber of Commerce (BMCC) in collaboration with InvestSarawak and Standard Chartered Malaysia. The forum brought together more than 150 government representatives, industry leaders and investors at the Sheraton Kuching Hotel.
Competitive power and a skilled workforce
During the fireside chat, moderated by Mushahid Syed, Interim CEO of Standard Chartered Malaysia, the Premier pointed competitive electricity tariffs as one of the key competitive advantages for manufacturers assessing long-term operating costs. He also mentioned water and solar availability, Sarawak’s location within ASEAN and government policies, and access to local talent who can operate modern production technologies as factors in investment decisions.
The Premier identified hydropower, natural gas, solar and biomass as the four main resources for Sarawak’s energy strategy anchored in renewable energy. Looking ahead to a more data-driven economy, he discussed how digital infrastructure could evolve towards what he called an AI grid.
He also linked Sarawak’s investment in education to its ability to develop higher-value industries. He pointed to the state’s Free Tertiary Education Scheme (FTES) as a way to build the skills needed in emerging sectors and help businesses add value to Sarawak’s existing resources.
Data and AI in a changing economy
The Premier described data as a foundation of future economic activity. He spoke about how AI could help businesses develop solutions across industries and how digital infrastructure might evolve as demand for real-time data processing grows.
He also raised the importance of data integrity as AI adoption increases. He pointed to research into ways of detecting false or fabricated data and cited banking as one area where such tools could be useful.
Sustainability across the industrial value chain
Drawing on Bintulu’s experience and Sarawak’s participation in the World Economic Forum’s Transitioning Industrial Clusters initiative, the Premier said sustainability must extend across the industrial value chain. That includes the energy used to power operations, the inputs that go into production and how goods are made.
For Sarawak to meet its goals for 2030 and beyond, he said, “the system itself must be green.” He pointed to cleaner energy, smarter production processes and environmental protection as priorities for businesses seeking to meet sustainability requirements in export markets such as the European Union.
Public and private financing for major projects
“The engine of growth is the private sector,” the Premier said.
He described how government could provide the policies, facilities and infrastructure to support investment, while businesses bring industry expertise and lead project delivery. He outlined a hybrid financing approach in which public resources, such as state revenue, could be used alongside private financing to support major infrastructure and industrial projects.
InvestSarawak works with prospective investors to identify opportunities in Sarawak and connect with the relevant government agencies and industry partners as they assess their projects.
Speaking separately at the forum, British High Commissioner to Malaysia H.E. Ajay Sharma CMG said in his opening remarks that Sarawak’s clean energy ambitions offered scope for collaboration with the UK in green finance, technology and engineering. He said projects of this scale would require private and institutional capital alongside public funding, and that attracting such capital would depend on developing credible projects that could remain viable over the long term.
Sharma pointed to UK Export Finance, the UK’s export credit agency, as a potential partner for clean energy projects in Sarawak. He cited its ability to provide guarantees in Malaysian ringgit as an example of how UK financing expertise could support project development.
Together with government, industry and stakeholders, InvestSarawak remains committed to facilitating investments that support Sarawak’s industrial transition and create long-term economic opportunities.
