The Launching of Sarawak Business Federation

KUCHING: Chief Minister Tan Sri Adenan Satem said Sarawak needs to achieve an annual growth rate of 6.5 per cent over the next seven years for the state’s economy to flourish and the people to prosper. In explaining the ambitious target, which is two per cent above the national growth rate,

In explaining the ambitious target, which is two per cent above the national growth rate, Adenan said Sarawak will do more for the state’s economy to be on par with other states throughout the country. “We are behind and we want to catch up (with other states). That is why Sarawak must, over the next seven years, achieve (an annual) growth rate of 6.5

“We are behind and we want to catch up (with other states). That is why Sarawak must, over the next seven years, achieve (an annual) growth rate of 6.5 per cent. “I don’t think we can (achieve the target) but we must try to catch up,” said

“I don’t think we can (achieve the target) but we must try to catch up,” said Adenan in his speech during the launch of the Sarawak Business Federation (SBF) here today.

To create wealth, Adenan said the government and the business community, mostly from the private sector, must work together to explore all untapped opportunities in Sarawak.

“Ignoring the importance of working together will only result in the emergence of a socialist system, which will bring disaster to the society.

“This has been proven (by) the anti-business and anti-private enterprise (ideology) embraced by the Soviet Union about 70 years ago. “The same example (the detrimental outcome of socialist policy) was observed during the era of (late Indian prime minister) Jawaharlal Nehru. Only after that (era) was India able to create a viable middle class,” he said.

“Ignoring the importance of working together will only result in the emergence of a socialist system, which will bring disaster to the society. “This has been proven (by) the anti-business and anti-private enterprise (ideology) embraced by the Soviet Union about 70 years ago.

“The same example (the detrimental outcome of socialist policy) was observed during the era of (late Indian prime minister) Jawaharlal Nehru. Only after that (era) was India able to create a viable middle class,” he said.

“This has been proven (by) the anti-business and anti-private enterprise (ideology) embraced by the Soviet Union about 70 years ago.

“The same example (the detrimental outcome of socialist policy) was observed during the era of (late Indian prime minister) Jawaharlal Nehru. Only after that (era) was India able to create a viable middle class,” he said.