Sarawak Budget 2025: Empowering Low-Income Groups, Boosting Tourism, and Fostering a Green Economy According to Curtin Malaysia Experts
Leading academics from the Faculty of Business at Curtin University Malaysia have conducted an analysis of the Sarawak Budget 2025, emphasizing its strategic allocations intended to empower low-income families, promote sustainable tourism, and support the development of a green economy. This analysis aligns with Premier Datuk Patinggi Abang Johari Tun Openg’s approach to fostering economic growth in accordance with the Sarawak Government’s Post-Covid-19 Development Strategy (PCDS) 2030.
Empowerment of Low-Income Households
The budget allocates RM3.75 million for the Low-Income Household Empowering Programme, which aims to provide 750 vulnerable families with entrepreneurial skills and resources needed to establish small businesses. Associate Professor Lew Tek Yew highlighted that training in business planning, market access, and financial support is crucial in fostering self-reliance among these households. He emphasized the importance of ongoing support to ensure the long-term success of such initiatives.
Dr. Lew also noted that the programme not only supports vulnerable groups, including women and marginalized communities, but also contributes to broader economic growth through grassroots entrepreneurship.
Positioning Sarawak in Global Tourism
Senior Lecturer Dr. Samuel Adeyinka-Ojo remarked on the RM174 million allocated for tourism in the budget, considering it an important step toward establishing Sarawak as a prominent destination for eco-tourism and cultural experiences. He indicated that this budget reflects the government’s commitment to preserving Sarawak’s cultural heritage while employing digital marketing strategies and enhancing infrastructure to improve global visibility.
Dr. Adeyinka-Ojo proposed that Miri could capitalize on its proximity to Nusantara, Indonesia’s emerging capital, by developing medical tourism as a niche market. The allocation of RM45 million for cultural events and festivals is also viewed as a critical component of Sarawak’s economic diversification efforts, with increased funding for organizations such as the Sarawak Tourism Board expected to amplify initiatives promoting Sarawak’s cultural identity and tourism sector growth.
Driving the Green Economy through SME Initiatives
Dr. Tanusree Chakravarty Mukherjee, a lecturer in Accounting, Finance, and Economics, provided insights into the Sustainable Development Financing Scheme, which focuses on supporting small and medium-sized enterprises (SMEs) to foster a green economy. She pointed out that SMEs have the potential to excel in sectors like renewable energy, waste management, and eco-friendly production. The initiative aims to facilitate the transition of SMEs to sustainable practices, which could have a significant impact on Sarawak’s environmental initiatives.
Dr. Mukherjee emphasized that the effectiveness of the scheme will rely on strategic implementation and called for collaboration among universities, research institutions, and SMEs to develop innovative green technologies and practices.
In summary, the analyses from Curtin Malaysia’s Faculty of Business highlight the transformative potential of the Sarawak Budget 2025. With initiatives focused on community empowerment, global tourism positioning, and sustainability, the budget reflects a comprehensive vision for inclusive growth as Sarawak progresses toward its PCDS 2030 goals.
Original source: Curtin Malaysia News
