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New Straits Times
23-07-2025
- Business
- New Straits Times
Academic: Economic growth must bring tangible benefits to people
KOTA KINABALU: The country's positive economic figures must be translated into tangible benefits for the people, said Sabah Universiti Teknologi Mara senior lecturer Dr Jain Yassin. "This growth for sure strengthens investor confidence, and is good news. "We also welcome the increase in jobs creation, but hope more opportunities will be allocated to Sabah, especially given its higher unemployment rate compared with the national average," said the adviser for the All-Party Parliamentary Group Malaysia-SDG (Sabah Region). He was commenting on Prime Minister Datuk Seri Anwar Ibrahim's annoucement that Malaysia's gross domestic product grew by 4.4 per cent in the first quarter of this year. Anwar said that based on early projections, growth in the second quarter was expected to reach 4.5 per cent. He also said Malaysia recorded its highest-ever approved investments last year, amounting to RM384 billion, a 17 per cent increase from 2023. Anwar, who is also finance minister, said the labour market was improving, with the unemployment rate dropping from 3.9 per cent in 2022 to 3.0 per cent as of May 2025. Over 250,000 new jobs were created between 2023 and 2024. He also announced that the government will accelerate the hiring of over 4,352 healthcare staff, particularly contract doctors, across the country by the end of this year. Jais said the aid for padi and rubber farmers, along with improving access to education, was the right approach for Sabah. "These efforts directly benefit rural communities and are more impactful than financial assistance. "Overall, this reflects a grassroots economic strategy suited to Sabah. "While some initiatives remain macro and peninsula-centric, the focus is moving closer to the people. "We hope the 13th Malaysia Plan will emphasise sustainable strategies to ensure Sabah's long-term economic growth."
New Straits Times
23-07-2025
- Business
- New Straits Times
People must benefit from good growth figures, says academician
KOTA KINABALU: The country's positive economic figures must be translated into tangible benefits for the people, said Sabah Universiti Teknologi Mara senior lecturer Dr Jain Yassin. "This growth for sure strengthens investor confidence, and is good news. "We also welcome the increase in jobs creation, but hope more opportunities will be allocated to Sabah, especially given its higher unemployment rate compared with the national average," said the adviser for the All-Party Parliamentary Group Malaysia-SDG (Sabah Region). He was commenting on Prime Minister Datuk Seri Anwar Ibrahim's annoucement that Malaysia's gross domestic product grew by 4.4 per cent in the first quarter of this year. Anwar said that based on early projections, growth in the second quarter was expected to reach 4.5 per cent. He also said Malaysia recorded its highest-ever approved investments last year, amounting to RM384 billion, a 17 per cent increase from 2023. Anwar, who is also finance minister, said the labour market was improving, with the unemployment rate dropping from 3.9 per cent in 2022 to 3.0 per cent as of May 2025. Over 250,000 new jobs were created between 2023 and 2024. He also announced that the government will accelerate the hiring of over 4,352 healthcare staff, particularly contract doctors, across the country by the end of this year. Jais said the aid for padi and rubber farmers, along with improving access to education, was the right approach for Sabah. "These efforts directly benefit rural communities and are more impactful than financial assistance. "Overall, this reflects a grassroots economic strategy suited to Sabah. "While some initiatives remain macro and peninsula-centric, the focus is moving closer to the people. "We hope the 13th Malaysia Plan will emphasise sustainable strategies to ensure Sabah's long-term economic growth."
