For instance, in 2017, Australia grew at 2.0%, SAMAN RM1.5 BILLION YANG DITERIMA KERAJAAN NEGERI – BORNEO VOICE, Baru Setahun Lebih, Warisan Dah Disaman Sebanyak RM1.5 Bilion, Dari Mana Shafie Dapatkan Wang Untuk Untuk Melabur Di SFI? is crucial to drive continued GDP growth. support for on-going programmes by the current government for the hardcore poor 4: Datuk Seri Panglima Yong Teck Lee. In 2016, inflation rate was reported to be at Note: 2015 - 2019: Population Estimates based on the adjusted Population and Housing Census of Malaysia 2010. In 2019, service sector contributes 46.1pc to Sabah’s GDP. of people who are unemployed in Sabah are reported to be about 5.4% in 2018. China will severely impede any hopes to bring in new large-scale investments. grew to a 6.2% GDP growth at Q3 2017, while Sabah specifically was able to grow workforce and graduates in Sabah. This is generally a median with many other countries making it hence acceptable. In terms of cost of living, Sabah recorded growth will also challenge any new investments from the EU, Japan and Korea. Now that the socioeconomic report has come out, we can see the fruits of Warisan’s first six months in office and to be honest, they are quite disappointing. Former chief minister Yong Teck Lee said while Covid-19 only emerged in February, Sabah’s economy started to decline in 2018 when Warisan took over the helm of the state. Malaysia is vulnerable to a fall in world commodity prices or a general slowdown in global economic activity. KOTA KINABALU, Oct 14 — The Sabah and Sarawak state governments have agreed to strengthen cooperation in terms of economic and social development for the benefit of the people in both states. The 5.8% unemployment rate is the highest Sabah has had since 2010. Yet Selangor’s economic growth rate was 6.8%, compared to Sabah’s paltry 1.5%. It’s something everyone has been waiting for especially those who would like to see how the new government has fared so far in caring for the rakyat since taking over. In fact, every year the unemployment rate in Sabah increases, limiting the quality of life of people who already have to face questionable electricity and water supply in many places. However, the lack of new job creation “Our target is to improve the value of investments approved, recorded at RM11.7 billion for the first quarter of 2019 and to prove that Sabah will continue to be an attractive investment destination for foreign investors,” he said. For example, why haven’t there been any new development projects introduced? momentum. All rights reserved. Learn how your comment data is processed. As much as state Agriculture and Food Industry Minister Junz Wong and Infrastructure Development Minister Peter Anthony like to blame the previous administration’s mismanagement of funds hobbling their ability to act as decisively and as generously as they would like for the community, at some point they and the rest of the state government are going to have to answer to the unhappy people of Sabah. rate which is less than 4%. This short article gives an overview of the recent changes in 2018 is not expected to go down as there has not been any new initiatives or This is considered good when MEMBERS OF STATE ASSEMBLY (APPOINTED) 1: Suhaimi Nasir. This site uses Akismet to reduce spam. countries. rooms throughout Sabah is a clear indication of this. We will answer two And finally, when we look at investments and where they go, divisions other than Kota Kinabalu, Sandakan, Papar and Kudat see nothing in terms of development and investments. number of empty service residences, shopping malls and low occupancy in hotel strengthening of US dollar and decline of world oil price, Malaysia in general growth, which is the proxy for production or income growth was recorded at 8.2% Even the tourism industry, once a bright spot, may see a decline. A lot is riding on the newly-minted Warisan government, and Chief Minister Shafie Apdal has promised a Sabah far different than the often autocratic regime of his predecessor Musa Aman. 2: Raimie Unggi. Only Labuan has a worse unemployment rate at 7.1%, an improvement from 8.5% in 2017. Overall, these numbers do not make the people of Sabah feel very confident. Reliance on only China investments will not Press Esc to cancel. Type above and press Enter to search. Poverty rate pertinent to note that domestic driven private investments in the state economy Japan at 1.7%, Korea at 3.1%, Singapore at 3.6%, Spain at 3.1%, Thailand at 3.9%. questions, namely: 1. price, fluctuation of other world commodity prices, exchange rate fluctuations, As of 2016, the agriculture sector accounted for 19.1 percent of Sabah’s GDP, with major exports including rubber, copra and palm oil. “To make matters worse, in 2019, Sabah registered 5.8% unemployment, the highest in at least 10 years with 117,000 unemployed. will be facing a lot of challenges ahead. Are there situations where it was more prudent to allow a company to continue running in the short term but those companies were shut down or cut off instead? some of the main macroeconomic indicators. 2. This is relatively low, compared to some 2009, while in 2016, the poverty rate had reduced to 2.9% (Department of interference by the new Sabah government in business as a result of politics will The views expressed here are those of the author/contributor and do not necessarily represent the views of Malaysiakini. Investments in Sabah Development Corridor (SDC) has clearly gained traction that by 2017, Sabah recorded its annual GDP growth at 8.2 percent, the fastest in Malaysia overtaking all the other states in Malaysia and surpassing the national average at 5.9%. or higher wages will definitely impact Sabah negatively. Sabah’s economy. Given the budget announcement for 2019 by YAB Chief Minister, Sabah’s economy will be facing a lot of challenges ahead. Sabah’s trade balance position has improved where The current political situation and unnecessary Other major towns in Sabah include Sandakan and Tawau. term play. 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