Kuching: The Sarawak Government and Universiti Malaya (UM) today signed a Memorandum of Agreement (MoA) to establish the Yang Amat Berhormat Premier Sarawak Endowed Chair, aimed at enhancing new economy research. The ceremony was officiated by Sarawak deputy state secretary (Economic and Economic Planning), Datuk Seri Dr Muhammad Abdullah Zaidel, and UM vice-chancellor, Prof Datuk Seri Dr Noor Azuan Abu Osman. It was witnessed by Sarawak Premier Tan Sri Abang Johari Tun Openg, deputy premier Datuk Amar Dr Sim Kui Hian, state secretary Datuk Amar Mohamad Abu Bakar Marzuki, and deputy minister in the Premier’s Department (Corporate Affairs, Information and UKAS), Datuk Abdullah Saidol.

According to BERNAMA News Agency, a statement released during the MoA signing announced that the Sarawak government has allocated RM5 million towards the endowed chair. This funding will be invested to generate returns to support research, publications, and services related to the new economy and its regulatory landscape. The primary aim of this initiative is to enhance knowledge and expertise in emerging economic frameworks and regulatory aspects that can drive economic growth and promote progressive governance.

The statement further explained that a Special Committee would be formed to organise an annual lecture series named the Yang Amat Berhormat Premier Sarawak Lecture. This event will take place at a venue to be announced later. The research conducted under this Chair will be published in reputable international journals and will be accessible to the Sarawak government and its agencies. The goal is to apply the acquired knowledge to policy formulation and strategic development planning.

The endowed chair also aims to support Sarawak’s economic growth by facilitating a deeper understanding of current economic policies. Key areas of focus include the Green Economy, Hydrogen Economy, healthcare biotechnology, and Artificial Intelligence, all of which align with the Sustainable Development Goals.