KUCHING: As Sarawak advances toward its vision of becoming a high-income, innovation-led economy by 2030, financial institutions must play a more proactive role beyond simply managing capital, said State Deputy Premier Datuk Amar Douglas Uggah Embas.
Speaking at the opening of Affin Bank’s new Icom Square branch today, Uggah emphasised that financial institutions must unlock economic transformation with intelligence, equity, and a clear commitment to sustainable development.
“A robust financial system is essential for a thriving economy. Affin Bank, through its integrated structure combining Affin Bank, Affin Islamic, and Affin Hwang Investment Bank, provides a seamless platform for individuals, businesses, and investors alike,” he said.
He commended Affin’s support for small and medium enterprises (SMEs), green financing, and digital solutions tailored to Sarawak’s unique regional needs, noting the institution’s critical role as a capital partner in backing catalytic infrastructure projects that will power Sarawak’s next phase of growth.
Uggah, who is also Sarawak’s Second Minister of Finance and New Economy and Minister for Infrastructure and Port Development, stressed that SMEs are not merely contributors to GDP but the “economic heartbeat” that creates jobs, drives innovation, and fuels inclusive growth.
“To unlock their full potential, we must create an environment where local enterprises can thrive—through better access to financing, business support services, and digital capabilities,” he said.
Uggah highlighted Affin’s efforts in facilitating access to working capital, trade finance, and operational digitalisation as examples of how financial institutions can empower local entrepreneurs to scale and lead.
“The strength of a region is reflected not only in the amount of domestic and foreign direct investment it attracts but also in how well it enables homegrown businesses to thrive,” he added.
He also called on financial institutions to be responsive, locally attuned, and digitally enabled, stressing the need for forward-looking approaches that accelerate long-term socio-economic growth.
“Financial institutions must provide not only broader access to capital and advisory services but also embrace strategies that drive sustainable and inclusive economic development,” Uggah concluded.
— BERNAMA
