Boosting Sabah's Economy Development

Sabah Development Corridor (SDC) was launched on 29 January 2008 to enhance the quality of life of the people by accelerating the growth of Sabah’s economy, promoting regional balance and bridging the rural-urban divide while ensuring sustainable management of the state’s resources.

The Instrument in implementing SDC is SEDIA (Sabah Economic Development And Investment Authority). Approve by the Sabah State Legislative Assembly  via the adoption of Sabah Economic Development and Investment Authority Enactment 2009 on 15 January 2009, SEDIA is entrusted as the One-Stop Authority to drive SDC, with the primary responsibility to plan, coordinate, promote and accelerate the development of the SDC.

SEDIA has manage to implement the programs under SDC effectively and able to produce positive result since its launched three years ago. The articles below will give readers better insight on SEDIA's success in running the SDC programs.

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MEASURES TO BOOST ECONOMY

KOTA KINABALU: The global economic prospect is expected to be challenging next year and as such the state government will put in place measures to stimulate domestic economic activities, in particular public and private investments, as well as private consumption.

The International Monetary Fund has revised downwards the world economic growth to four per cent and world trade to 5.8 per cent due to the economic slowdown in the United States, Europe and Japan, inflationary pressures due to rising commodity prices, the European debt crisis as well as slower world trade.

These global developments would certainly have a direct impact on the Malaysian economy. However, the Organisation for Economic Cooperation and Development (OECD) has noted that economic growth in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam is likely to remain robust at 5.9 per cent on the average by 2016 from five per cent estimated for this year as these countries increase investment and spur domestic demand.

Musa Aman

Chief Minister Datuk Seri Musa Haji Aman said this in his opening remarks at the 8th meeting of the members of the Sabah Economic Development and Investment Authority (SEDIA) here yesterday.

Musa who is also Finance Minister said despite uncertainties in the global economy, moderation in external trade, increased inflationary pressures as well as geopolitical unrest, Malaysia registered 4.4 per cent growth in the first half of 2011.

The growth, he said, was driven by expansion in the domestic economy, which remained robust, and this momentum was expected to increase by end of this year spurred by a more vibrant private consumption and investment.

This year’s growth, he said, was estimated to expand between five per cent and 5.5 per cent while economic growth in 2012 for Malaysia is projected at between five per cent and six per cent.

“For Sabah the projected growth is about five per cent,” Musa said.

Meanwhile, he said to complement the National Budget, the state government has approved an expenditure of RM4,048.28 million in the 2012 State Budget to accelerate development and enhance the well-being of the people.

“This is the biggest expenditure ever in the state’s financial history, and one of its objectives is to stimulate economic growth by improving basic infrastructure and public utilities for the benefit of the people and investors,” he said.

Kota Kinabalu City At Night*

And yesterday, the Chief Minister also announced that the total cumulative investment committed under the private sector-led Sabah Development Corridor (SDC) projects has reached RM63.16 billion as at November this year while the realised investment amounted to RM16.05 billion.

These figures, he said, did not include new SDC entry point projects identified following the Regional Cities and Corridors Lab which were expected to be announced during its open day scheduled for early next year.

“I am also pleased to announce that out of the total allocation of RM1.27 billion for SDC projects during the 9th Malaysia Plan (9MP), a sum of RM1.01 billion had been channelled to SEDIA as at November 30.

Read More: http://www.newsabahtimes.com.my/nstweb/fullstory/54823

*Picture taken from http://mount-kinabalu-borneo.com/blog/