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Sarawak Economy: Outlook For Next Millennium

Okposin, Samuel B. (1997) Sarawak Economy: Outlook For Next Millennium. In: Sarawak Economy. Sarawak Press, Sarawak.

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Abstract Purpose: This chapter examines Sarawak economy as the one of the fastest growing states in Malaysia. Far from being content with the current status quo, Sarawak is taking all feasible steps to remain the most competitive state in the country for industrialisation and modernisation. This means there is an urgent need for economic planners to accelerate the state’s growth and development to enable it to attain its goal of becoming an industrialised and financial hub by the turn of the century. Ambitious it may sound, but it is not an impossible task given the state’s inherent advantages from nature’s treasure to its human resources, which are working hand in hand towards making the goal a reality. Method: The official micro and macro economic data were used to examine current economic trends and forecast for the year 2000 and beyond. The overall analysis incorporated surveys from various consultancy firms in the state. Result: Sarawak’s robust economic growth over the last thirty-four years can be attributed to three crucial factors. Firstly, the role of the state in preparing the ground for sound economic growth through transparent government, prudent policies, pragmatic programmes and strategically planned projects. Secondly, the key role of the vibrant private sector as major partners in projects and the overall public-private partnership of the state. Finally, the strong leadership of the Chief Minister has been invaluable in redefining and redesigning the concept of the urban and rural approach resulting in dynamic changes in rural development and coastal network establishments.

Item Type: Book Section
Subjects: H Social Sciences > HB Economic Theory
H Social Sciences > HC Economic History and Conditions
H Social Sciences > HE Transportation and Communications
H Social Sciences > HF Commerce
H Social Sciences > HG Finance
Divisions: Faculty of Law, Arts and Social Sciences > School of Social Sciences
Depositing User: Dr Samuel B. Okposin
Date Deposited: 31 Mar 2015 09:56
Last Modified: 31 Mar 2015 09:56

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