KUCHING: Sarawak achieved several major breakthroughs during the 12th Malaysia Plan (12MP), giving the state greater control over its economy.
Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg said these achievements included the state government’s takeover of ports, power generation assets, and the establishment of Petroleum Sarawak Berhad (Petros), which allowed direct participation in the oil and gas sector.
“All the ports are now under the state government, including Bintulu Port, which places logistics fully under our jurisdiction.
“Under the 12MP, we had also secured complete control of power after taking over Bakun Dam and other generating plants, which were previously outside state authority,” he said when officiating at the Sarawak Economic Conference 2025 at Sheraton Hotel here today (Oct 20).
Another unexpected milestone was the setting up of PETROS, which Abang Johari said enabled Sarawak to enter the industry through a commercial agreement with PETRONAS.
He said another unplanned achievement was the establishment of a state-owned development bank and the takeover of Affin Bank.
“That will give us the financial muscle to support our active SMEs and provide better services for our people,” he added.
He noted that having control of ports, energy, logistics, gas and banking had provided Sarawak with stronger financial capacity and new avenues for economic growth.
With the 12MP ending this year, he said the state would now focus on charting its priorities for the 13MP over the next five years.
“The plan is there to facilitate, but it is up to us to analyse our strength and chart a new approach in managing our economy,” he said.
The Premier welcomed the increased federal allocation for Sarawak under Budget 2026, a record-high RM6 billion for development.
He said this reflected the federal government’s confidence in the state’s growth trajectory.
“We will build on this momentum — leveraging our unique strengths and accelerating initiatives that foster innovation, sustainability and long-term growth.
“Guided by Post COVID-19 Development Strategy (PCDS) 2030, the 13MP represents the next phase of Sarawak’s transformation — one that is high-income, green, inclusive and globally competitive,” he assured. - Sarawak Tribune