Sarawak's extensive development plan is projected to be favourable to the state's construction sector, analysts say.

AmInvestment Bank Bhd's (AmInvestment Bank) analysts went to Kuching to gain insight into the state's development plan - including potentially new projects, with the appointment of a new chief minister- and the progress of the projects' execution.

the state government of Sarawak has outlined its development initiatives - the Sarawak Corridor of Renewable Energy (SCORE), Socio-Economic Transformation Plan (SETP) and creating a digital economy.

"These initiatives were aimed at transforming Sarawak into an advanced and high-income state by 2030" it said.

"The newly appointed chief minister has recently announced several plans including the setting up of Development Bank of Sarawak to fund SETP projects.”

AmInvestment Bank noted that the plans include a Light Rail Transit (LRT) system connecting Kuching, Samarahan and Serian, and a RM1 billion investment on ICT infrastructure to harness its potential in the digital economy.

The research firm further noted that these plans would be implemented over the next three to four years.