KOTA KINABALU: The Sabah government is aiming to bring about an industrial-based economy through this year’s development-centric budget, according to chief minister Datuk Seri Mohd Shafie Apdal.
He said economic development would be a priority in this year’s budget spending with an allocation of RM896.32 mil to grow key industries.
“Every state in Malaysia is responsible for stimulating its own economy to ensure that our nation’s economy remains stable and enhanced,” he said at the opening of the World Islamic Economic Forum (WIEF) Roundtable here today.
This, he added, is in line with the 12th Malaysia Plan that has identified key industries such as manufacturing, tourism, agriculture, technology and education as growth drivers of the state’s economy.
Mohd Shafie said policy frameworks such as the Agriculture Blueprint (2021-2030) and the Sabah Timber Industry Master Plan would support the state’s goal in diversifying its economy.
The Sabah government, said the chief minister, would also pay particular attention to issues relating to environmental preservation and protection.
“It is important for us to ensure a right balance between development and the preservation of our natural environment,” he stressed.
Mohd Shafie felt that the theme of WIEF Roundtable, “Economic rejuvenation: The path to growth,” is in line with the Sabah Development Corridor’s initiatives to catapult Sabah economically into becoming a regional investment powerhouse.
“Looking at the topics of today’s roundtable, I trust that we will all gain abundant knowledge and solutions to various economic challenges,” he added.
The chief minister said he was particularly drawn to one of the topics in the roundtable, on Indonesia shifting its capital to Kalimantan and the opportunities it opens up for the entire Borneo island that also encompasses Sabah, Sarawak and Brunei.
“Together, we can make a bigger impact in ensuring that high profile investments can be put in place in the next 20 to 30 years, benefiting the people of Malaysia, Indonesia and Brunei,” he added.
As the roundtable also addresses business and investment opportunities in Sabah, Mohd Shafie said: “I am confident that policies and incentives offered by the state will help to persuade you to consider doing business and invest in Sabah.” – March 12, 2020, Bernama
