Sarawak Budget 2025 empowers low-income groups, boosts tourism, and green economy, say Curtin Malaysia experts

Miri, Sarawak – 20 November 2024 – Leading academics and researchers from the Faculty of Business at Curtin University Malaysia (Curtin Malaysia) have provided an in-depth analysis of the Sarawak Budget 2025, unveiling how its strategic allocations are poised to empower low-income families, enhance sustainable tourism, and foster a green economy.

Their insights spotlight the forward-thinking approach of Premier Datuk Patinggi Abang Johari Tun Openg in addressing economic growth and sustainability goals, aligning with the Sarawak Government’s Post Covid-19 Development Strategy (PCDS) 2030.

Empowering low-income households through entrepreneurship

Associate Professor Lew Tek Yew, Head of the Department for Management, Marketing, and Digital Business, praised the allocation of RM3.75 million for the Low-Income Household Empowering Programme. This initiative aims to equip 750 vulnerable families with entrepreneurial skills and start-up resources to launch small businesses.

“By providing training in business planning, market access, and start-up capital, the Sarawak Government is fostering self-reliance among low-income households,” said Associate Professor Lew. “To ensure long-term success, ongoing support in market access and sustainable business practices is vital.”

Dr. Lew, whose research foci includes human resource management and development, future of work, work design and occupational wellbeing, and business and sustainable business, emphasised that this initiative not only uplifts vulnerable groups, such as women and marginalised communities, but also contributes to broader economic growth by encouraging grassroots entrepreneurship.

Positioning Sarawak as a global tourism leader

 Senior Lecturer Dr. Samuel Adeyinka-Ojo highlighted the RM174 million tourism allocation, lauding it as a bold step toward positioning Sarawak as a premier destination for eco-tourism and cultural experiences.

“This budget underscores the government’s commitment to preserving Sarawak’s cultural heritage and natural beauty while leveraging digital marketing and infrastructure improvements to attract global audiences,” Dr. Adeyinka-Ojo stated.

He further suggested that Miri could capitalise on its strategic location near Nusantara, Indonesia’s new capital, by developing medical tourism as a niche offering. Dr. Adeyinka-Ojo also applauded the RM45 million set aside for cultural events and festivals, calling it a vital component of Sarawak’s economic diversification strategy.

“Increasing funding for entities like the Sarawak Tourism Board and Business Events Sarawak to RM86 million supports initiatives that help preserve Sarawak’s cultural identity while driving economic growth within the tourism sector,” he added.

Dr. Adeyinka-Ojo’s research interests span a wide spectrum of tourism and hospitality related areas, including tourism destination marketing and branding, hospitality marketing, visitor behaviour, festivals and events management, human resources management in hospitality and tourism, hospitality revenue management, and sustainable rural and ecotourism destinations.

 Driving the green economy through SME support

Lecturer of Accounting, Finance, and Economics Dr. Tanusree Chakravarty Mukherjee provided critical insights into the Sustainable Development Financing Scheme, which prioritises financial support for SMEs to foster a green economy.

“SMEs are uniquely positioned to lead in sectors like renewable energy, waste management, and eco-friendly manufacturing. The budget’s focus on empowering them with the resources to adopt sustainable practices could significantly accelerate Sarawak’s green transition,” Dr. Tanusree remarked.

She noted that the scheme’s success hinges on strategic implementation, urging collaboration between universities, research institutions, and SMEs to develop green technologies and practices.

“When SMEs can access the necessary technological, financial, and human resources, they can serve as change agents in advancing sustainable economic growth,” she remarked.

Dr. Tanusree added that targeted support for SMEs in remote areas could enhance ecotourism and sustainable agriculture, ensuring widespread impact across Sarawak.

In addition to being a lecturer, Dr. Tanusree is an active researcher leading the ‘Green Economy Roadmap and Sustainable Future’ research cluster at the Faculty of Business. Her research interests lie in Applied Economics, and Micro and Macroeconomics.

A vision for inclusive and sustainable growth

 The Curtin Malaysia Faculty of Business’s analyses underscore the transformative potential of the Sarawak Budget 2025. From empowering local communities to positioning Sarawak as a global tourism destination and championing green innovation, the budget reflects a holistic vision for inclusive growth and sustainability.

As Sarawak advances toward its PCDS 2030 goals, these academic insights provide valuable perspectives on how key sectors can unlock new opportunities while addressing pressing environmental and socio-economic challenges.

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Curtin Malaysia academics and researchers (L-R) Associate Professor Lew,Dr. Samuel and Dr. Tanusree provided an in-depth analysis on Sarawak Budget 2025