KOTA KINABALU, Sept 11- Despite an eventful year, Sabah has registered healthy economic and investment growth this year, said Chief Minister Datuk Seri Musa Aman.
He said the Lahad Datu intrusion by terrorists from the southern Philippines earlier this year had not dampened economic progress in the state although trade figures from January to June showed a slight decline.
“Exports recorded -8.3 per cent, while imports was at -11.0 per cent compared to the same period last year, resulting in a slightly higher trade surplus of RM5.7 billion,” he said at the Malaysia International Chambers of Commerce and Industry (MICCI) Sabah Branch luncheon here Tuesday.
The text of his speech was delivered by Deputy Chief Minister Datuk Raymond Tan Shu Kiah.
Musa, who is also State Finance Minister, said the first seven months of this year recorded 21 new investment projects in the manufacturing sector with a combined value of over RM3.9 billion.
The bulk of the investments were in chemical and chemical products, followed by electrical products, food, biomass and crude palm oil (CPO), he said.
He also said tourist arrivals in Sabah between January and May had increased 9.8 per cent over the same period last year.
“I am confident that Sabah’s tourist arrival target of three million for this year will be easily met,” he said.
Musa also noted that prices in Sabah remained stable in the first seven months with the Consumer Price Index showing a slight increase from 105.9 in January to 106.4 in July.
He said Sabah expected mild inflationary pressures as a result of the recent hike in prices of fuels, but prices in the state were projected to remain stable and manageable for the rest of the year and beyond.
Musa also attributed Sabah’s economic progress to the Federal government-led Economic Transformation Programme (ETP).
“As of June 30, the City and Corridor Entry Point Projects or EPPs have achieved 70 per cent or RM14.1 billion of their targeted investment of RM20 billion this year.
“These projects have also reached 84 per cent of the job creation target. Notably, close to 68 per cent of the jobs created are being filled by Malaysians, a drastic change from the past when two-thirds of new jobs created were filled by low-skilled foreign workers,” he said.
– BERNAMA
