SABAH RECORDED TOTAL INVESTMENTS OF RM6.5 BLN LAST YEAR - MUSA AMAN

KOTA KINABALU, April 10 (Bernama) -- Sabah recorded total investments of RM6.5 billion with 38.7 per cent contributed by the manufacturing sector last year, said Yang di-Pertua Negeri Tun Musa Aman.

He said the figures clearly showed that the Sabah government's efforts to develop the manufacturing sector were on the right track and had succeeded in attracting more investors to the state.

Musa said the manufacturing sector continued to play an important role in stimulating the state’s economy including opening up opportunities for technology integration, strengthening infrastructure and creating job opportunities.

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“To that end, focus will be given to developing more downstream activities in key industries including that of biomass, oil palm, industrial tree plantations and oil and gas.

“By encouraging the expansion of these sectors, Sabah also has the potential to attract more investments thus stimulating more sustainable economic growth for the state,” he said in his state government policy speech in conjunction with the opening ceremony of the Fifth Term of the 16th Sabah State Legislative Assembly here today.

Also present were Chief Minister Datuk Seri Hajiji Noor and Sabah State Assembly Speaker Datuk Seri Kadzim M. Yahya.

Musa said Sabah also managed to maintain state revenue collection above the RM6 billion level at RM6.842 billion last year.

According to him, the Sabah government has imposed state sales tax on three new products, namely silica sand, palm oil biomass brought out of Sabah, and gold and silver mined in the state.

It is an effort to diversify revenue sources and reduce the state's dependence on oil and gas-related resources, he said.

Meanwhile, Musa said the Sabah government has drawn up a strategic direction for the state's development for a five-year period through the 13th Malaysia Plan (13MP) with a focus on priority areas that are pillars of the state's development.

“Therefore, I urge all ministries, departments and state agencies to take proactive steps to plan development in line with this set direction to ensure that the real needs of Sabah are given priority,” he added.

Musa also said the Sabah government would focus on implementing programmes and projects oriented towards development spending as an effort to ensure the smooth implementation of the state's strategic development direction through the 13MP.

He said the commitment was in line with efforts to improve the state's financial management and increase development expenditure compared to operating expenditure.

“With this effort, the achievement of the state's economic development goals will be accelerated.        

“I am confident that, with full cooperation from all parties, the process of preparing the 13MP will be able to run smoothly and orderly by taking into account various perspectives and needs, thereby laying a solid foundation for the sustainable and inclusive development of Sabah,” he said.

-- BERNAMA