MARKET DEVELOPMENT
Sabah Registers Favourable Trade And Investment As Of June, Says Musa
Sabah Registers Favourable Trade And Investment As Of June, Says Musa
18/09/2014 (Bernama) - Sabah registered favourable trade and investment figures as of June despite various internal and international challenges faced by Malaysia, said Chief Minister Datuk Seri Musa Aman.
He said from January to June, Sabah's trade registered a five per cent increase in exports and a 11.4 per cent increase in imports compared with the same period last year, resulting in a trade surplus of RM4.9 billion.
Musa, who is also State Finance Minister, said in the six months period, the Malaysian Investment Development Authority had approved 13 projects valued at RM1 billion in Sabah while tourist arrivals increased 8.7 per cent compared to the same period last year.
"The new economic model is a catalyst to unleash Malaysia's growth potential through two components, and they are the Government Transformation Programme (GTP) and Economic Transformation Programme (ETP).
"These initiatives, which are well in gear, are generating positive results, nationwide.
In Sabah, the focus in on tourism, palm oil agriculture, manufacturing and oil and gas," he said at the Sabah International Expo 2014 (SIE2014) on Wednesday night.
Musa's speech was delivered by his deputy Tan Sri Joseph Pairin Kitingan.
The chief minister said projects under the Sabah Development Corridor (SDC) were progressing well and as of March, 30 per cent or RM38.4 billion of the pledged investments, totaling over RM128 billion, have been realised with close to 25,000 jobs created.
Musa said within the period about 60 per cent of the planned projects had taken off and were in various stages of implementation.
"These projects are transforming Sabah's economy in a positive manner and I am hopeful that the state will achieve its development aspirations and goals as set out in the SDC Blueprint," Musa added.
On the SIE, Musa said since its inception 14 years ago, the state government supported the event as it had successfully been sharing Sabah's story with the world and attracting foreign direct investments to the state.
He assured that the state government would continue supporting private sector initiatives to develop every single of Sabah's economic potential.
"The involvement of the private sector in growing our economy is evident in the commitment shown by the Federation of Sabah Industries and the Malaysian International Chamber of Commerce and Industries Sabah Branch.
"You have offered your expertise and sacrificed your time to organise SIE, and clearly you share our vision to turn Sabah into sustainably developed state.
"I was informed that over 230,000 people have visited the expo since it started in 2000 and hundreds of millions ringgit worth of businesses transactions have taken place," Musa said.
He said from January to June, Sabah's trade registered a five per cent increase in exports and a 11.4 per cent increase in imports compared with the same period last year, resulting in a trade surplus of RM4.9 billion.
Musa, who is also State Finance Minister, said in the six months period, the Malaysian Investment Development Authority had approved 13 projects valued at RM1 billion in Sabah while tourist arrivals increased 8.7 per cent compared to the same period last year.
"The new economic model is a catalyst to unleash Malaysia's growth potential through two components, and they are the Government Transformation Programme (GTP) and Economic Transformation Programme (ETP).
"These initiatives, which are well in gear, are generating positive results, nationwide.
In Sabah, the focus in on tourism, palm oil agriculture, manufacturing and oil and gas," he said at the Sabah International Expo 2014 (SIE2014) on Wednesday night.
Musa's speech was delivered by his deputy Tan Sri Joseph Pairin Kitingan.
The chief minister said projects under the Sabah Development Corridor (SDC) were progressing well and as of March, 30 per cent or RM38.4 billion of the pledged investments, totaling over RM128 billion, have been realised with close to 25,000 jobs created.
Musa said within the period about 60 per cent of the planned projects had taken off and were in various stages of implementation.
"These projects are transforming Sabah's economy in a positive manner and I am hopeful that the state will achieve its development aspirations and goals as set out in the SDC Blueprint," Musa added.
On the SIE, Musa said since its inception 14 years ago, the state government supported the event as it had successfully been sharing Sabah's story with the world and attracting foreign direct investments to the state.
He assured that the state government would continue supporting private sector initiatives to develop every single of Sabah's economic potential.
"The involvement of the private sector in growing our economy is evident in the commitment shown by the Federation of Sabah Industries and the Malaysian International Chamber of Commerce and Industries Sabah Branch.
"You have offered your expertise and sacrificed your time to organise SIE, and clearly you share our vision to turn Sabah into sustainably developed state.
"I was informed that over 230,000 people have visited the expo since it started in 2000 and hundreds of millions ringgit worth of businesses transactions have taken place," Musa said.