Facebook Twitter Google Plus Vimeo Youtube Feed Feedburner

ROS LBoard 1

SUCCC: Musa’s budget will empower Sabah economy

 | November 20, 2017

Sabah United Chinese Chambers of Commerce president Andrew Liew says the budget will create greater business opportunities for Sabahans and attract more investors to the state.

SUCCC-president-Andrew-Liew

SUCCC president Andrew Liew

PETALING JAYA: The Sabah United Chinese Chambers of Commerce (SUCCC) today hailed Chief Minister Musa Aman’s surplus budget as a sign of further economic progress to come in critical areas of the state’s economy.

SUCCC president Andrew Liew said the budget, announced last Friday, would create greater economic spin-offs and business opportunities for all Sabahans, from taxi drivers and durian farmers to those involved in the tourism industry.

“Tourism has been allocated a tremendous amount. This will set the pace for the promotion of tourism for the impending completion of the Sabah International Convention Centre, Tanjong Aru Eco project, which will create a tourism destination in itself, other hotels coming up, plus the development of tourism products that can cater for higher value and more tourists in the future,” he said in a statement today.

He added that the budget would attract more investments in the state.

On Friday, Musa proposed a total budget expenditure of RM4.1 billion for the year 2018, which is a surplus of RM64.89 million from its total revenue, double the surplus announced last year.

A key attraction was the budget’s 100% increase for its special allocation, from RM53 million to RM115 million next year.

Under the allocation, RM12 million was set aside for the state tourism ministry, to enable the development of the tourism industry in rural areas and encourage the participation of local communities.

It also included RM7 million for cleaner towns and RM8 million to restore toilets, playgrounds, jogging tracks and public parks; beautify old buildings; and install security cameras in public places.

Some RM1.33 billion meanwhile was allocated for infrastructure and transportation.

Liew said the budget was made possible through Musa’s prudent financial management.

He added that Sabah’s revenue base had broadened considerably from a commodity-based economy to one based on the service and manufacturing industry.

“These two industries have contributed 70% to 80% of Sabah’s economy. This is a remarkable achievement since Musa took over the reins of the Sabah government in 2003.”

Liew said many other states did not have the luxury of a “decent-sized reserve” in the state treasury like Sabah, and were highly dependent on handouts from the federal government.

“Sabah has a very decent state reserve which, in laymen’s terms, is like ‘a big amount of savings in the bank’.

“The role of this reserve cannot be overestimated in its benign and positive influence of Sabah’s economy, and has positioned Sabah to enjoy budgets like this one,” he added.

Liew also hailed the progress of the downstream industry in the Sipitang Oil and Gas Industrial Park, saying Musa’s decision to expand downstream would protect Sabah’s economic future.

Likewise, he said agriculture would continue being an important part of the state’s economy which was dominated by oil palm.

“For the smallholders, funds have been allocated for the development of crops which will help them increase their income.

“Eyeing the export market for durians is a good example,” he said.

He also said the significant allocation given for the development of youth and women shows the State Government’s recognition of how important these segments of society is to the progress of the state and nation.

“Overall, it is a budget that has taken into account the needs of the state’s socio economic development, the economic sectors and the welfare of various target groups like women, single mothers, youths, the disabled and many more,” he said.

 

Musa announces goodies in RM4.1 billion surplus budget for Sabah


Comments

Readers are required to have a valid Facebook account to comment on this story. We welcome your opinions to allow a healthy debate. We want our readers to be responsible while commenting and to consider how their views could be received by others. Please be polite and do not use swear words or crude or sexual language or defamatory words. FMT also holds the right to remove comments that violate the letter or spirit of the general commenting rules.

The views expressed in the contents are those of our users and do not necessarily reflect the views of FMT.

Comments