Latest news with #RM83.2
Daily Express
02-05-2025
- Business
- Daily Express
Shafie disputes Sabah's economic data
Published on: Saturday, May 03, 2025 Published on: Sat, May 03, 2025 Text Size: Shafie further pointed out that during Warisan's tenure, the government ensured that Sabah's economy grew year on year, even during the challenges posed by the Covid-19 pandemic. Kota Kinabalu: Former Chief Minister Datuk Seri Mohd Shafie Apdal challenged the GRS-PH State Government's claims, saying Sabah's 2023 Gross Domestic Product (GDP) at RM83.2 billion is lower than the RM85.6 billion recorded in 2019 under Warisan. 'This makes Sabah the only state in Malaysia that has not recovered to its pre-pandemic economic level. 'Data from the Department of Statistics Malaysia reveals that Sabah's economy grew faster under Warisan (2018-2020) than under the current Gabungan Rakyat Sabah (GRS) government. 'In 2019, Warisan achieved a record high GDP of RM85.6 billion, an increase from RM79.7 billion in 2017. 'However, after the change in government in 2020, Sabah's GDP fell to RM77.8 billion. By 2023, the economy only managed to recover to RM83.2 billion, which is still RM2.45 billion lower than in 2019. 'The unemployment rate has also worsened. In 2019, 114,300 individuals were unemployed in Sabah. 'By 2023, this number had increased to 165,600, representing an increase of more than 50,000,' the Parti Warisan President said in a statement. Shafie further pointed out that during Warisan's tenure, the government ensured that Sabah's economy grew year on year, even during the challenges posed by the Covid-19 pandemic. 'Under Warisan's leadership, economic progress was evident. However, despite being in power for over four years, GRS has failed to produce similar economic results,' according to Shafie. He said one of Warisan's key economic strategies was to build downstream industries, shifting Sabah's economy away from being reliant on raw materials. Shafie highlighted initiatives launched under Warisan such as the BESS Cooking Oil in Tawau, Sabah's first locally produced cooking oil brand, launched in 2020, GOLD Cooking Oil in Sandakan, a joint venture processing crude palm oil into consumer-ready products and Onsoi Cooking Oil in Keningau, a facility providing affordable cooking oil to rural communities. 'POIC Lahad Datu remains largely underutilised and the Kimanis petrochemical hub has failed to deliver on its potential. 'Instead of becoming a centre for industrial growth, POIC Lahad Datu is now mainly used for warehousing and logistics. 'The Kimanis petrochemical hub, once a game-changer for Sabah's oil and gas industry, has stalled,' Shafie said. * Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss. * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
New Straits Times
30-04-2025
- Business
- New Straits Times
Sabah's GDP projected to increase to RM84.9bil in 2024
KOTA KINABALU: Sabah's economy has shown positive growth, with a projected gross domestic product (GDP) of RM84.9 billion in 2024 compared to RM83.2 billion in 2023. In a statement after chairing the State Development Action Council meeting at Menara Kinabalu yesterday, Chief Minister Datuk Seri Hajiji Noor attributed the achievement to strong cooperation from various stakeholders in the state. He also emphasised the importance of continuing positive contributions and close cooperation to realise the Hala Tuju Sabah Maju Jaya aspirations, driven by the Sabah State Strategic Development Plan 2026-2030. "This framework will incorporate various initiatives, including the Blue Economy initiative and state development agendas under the 13th Malaysia Plan," he said. On the same note, Hajiji called for increased ground monitoring of the 1,265 projects and programmes scheduled for completion this year, urging state leadership and department heads to maintain closer supervision. This requires a paradigm shift in implementation, he said, emphasising the need to move away from outdated processes and negative mindsets that fail to acknowledge the state's achievements. He noted that Sabah received one of the highest allocations under the national budget, with RM6.7 billion allocated by the federal government this year. He added that the substantial allocation demonstrates the federal government's commitment to Sabah's development.
Daily Express
29-04-2025
- Business
- Daily Express
RM83 billion Sabah GDP growth: Chief Minister
Published on: Wednesday, April 30, 2025 Published on: Wed, Apr 30, 2025 Text Size: Hajiji speaking to a member of the council after the State Development Action Council meeting. Kota Kinabalu: Sabah's economy registered encouraging growth with its Gross Domestic Product (total value of goods and services) increasing to RM83.2 billion last year from RM82.1 billion in 2023, said Chief Minister Datuk Seri Hajiji Noor. 'This shows a momentum of continuous improvement and positive development in Sabah,' he said, adding it is in line with the national GDP which is expected to increase by 2.5 per cent through the Madani Economy Framework that saw the restructuring of Malaysia's economy under the National 2025 Budget. Chairing the State Development Action Council (MTNg) meeting at Menara Kinabalu, Tuesday, he attributed the achievement to co-operation from various quarters in the State. 'If we continue to contribute our energy positively through close cooperation, it is not impossible to successfully implement our Hala Tuju Sabah Maju Jaya aspirations,' he said. He urged relevant agencies to ensure all initiatives and programmes under the 12th Malaysia Plan (12MP) and Hala Tuju Sabah Maju Jaya development blueprint are implemented to spur economic growth and to lift the people's livelihood. Under the 13MP, the State Government has formulated a State Strategic Development Hala Tuju as a proactive step to spur Sabah's economy and development from 2026 to 2030. 'It is also an early framework that takes into consideration the policy, blueprint and current development plan. Various initiatives will be initiated encompassing the Blue Economy initiative and each state development agenda under the 13MP,' he said. Despite the various successes, Hajiji said the State Government must not become complacent. 'We must continue to work hard and be more proactive. All State leadership, heads of department and heads at district-level must go down to the ground more frequently to monitor ongoing programme or project implementation. 'This is important to ensure all programmes are done well and thoroughly,' he said, adding that this year 1,265 projects and programmes must be completed in Sabah. All the implementing agencies must constantly monitor these projects' progress and ensure they are completed according to schedule, he said. Sabah is among the highest recipients of the national budget, with RM6.7 billion allocated by the Federal Government this year. 'This proves that the voices of the people and leaders of Sabah are heard. It also demonstrates we are very serious and will strive to boost the State's development,' he said. 'We must do a paradigm shift to ensure the success of all our plans. We should do away with outdated processes and we must change attitudes that focus on the negatives without evaluating or crediting the successes or contributions made to the State,' he said. * Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss. * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Malay Mail
29-04-2025
- Business
- Malay Mail
Sabah's GDP growth reaches RM83.2b last year, boosted by national and state initiatives, says CM
KOTA KINABALU, April 29 — Sabah's economy has shown positive growth as its gross domestic product (GDP) rose to RM83.2 billion last year from RM82.1 billion in 2023, said Chief Minister Datuk Seri Hajiji Noor. In a statement after chairing the State Development Action Council meeting at Menara Kinabalu here today, Hajiji attributed the achievement to strong cooperation from various stakeholders in the state. 'The growth aligns with the national GDP, which is projected to increase by 2.5 per cent through the Madani Economy Framework,' he said. The chief minister emphasised the importance of continuing positive contributions and close cooperation to realise the Hala Tuju Sabah Maju Jaya aspirations. He also revealed that the state government has developed the Sabah State Strategic Development Plan 2026-2030 to boost Sabah's economy. 'This framework will incorporate various initiatives, including the Blue Economy initiative and state development agendas under the 13th Malaysia Plan,' he said. On the same note, Hajiji called for increased ground monitoring of the 1,265 projects and programmes scheduled for completion this year, urging state leadership and department heads to maintain closer supervision. This requires a paradigm shift in implementation, he said, emphasising the need to move away from outdated processes and negative mindsets that fail to acknowledge the state's achievements. He noted that Sabah received one of the highest allocations under the national budget, with RM6.7 billion allocated by the federal government this year. He added that the substantial allocation demonstrates the federal government's commitment to Sabah's development. — Bernama
Borneo Post
29-04-2025
- Business
- Borneo Post
CM: Sabah's economy remains on a positive trend
Hajiji speaking to a member of the council after the State Development Action Council meeting. KOTA KINABALU (April 29): Sabah's economy has registered encouraging growth with its Gross Domestic Product (GDP) increasing from RM82.1 billion in 2023 to RM83.2 billion in 2024, said Chief Minister Datuk Seri Panglima Hajiji Noor. 'This shows a momentum of continuous improvement and positive development in Sabah,' he said, adding this was in line with the national GDP, which is expected to increase by 2.5 per cent through the Madani Economy Framework that saw the restructuring of Malaysia's economy under the National 2025 Budget. Chairing the State Development Action Council (MTNg) meeting at Menara Kinabalu here on Tuesday, the Chief Minister said the achievement was due to cooperation from various quarters in the state. 'If we continue to contribute our energy positively through close cooperation, it is not impossible to successfully implement our Hala Tuju Sabah Maju Jaya aspirations,' he said. He urged relevant agencies to ensure all initiatives and programmes under the 12th Malaysia Plan (12MP) and Hala Tuju Sabah Maju Jaya development blueprint are implemented to spur economic growth and to uplift the people's livelihood. Under the 13MP, the Chief Minister said the State Government has formulated a State Strategic Development Hala Tuju as a proactive step to spur Sabah's economy and development from 2026 to 2030. 'It is also an early framework that takes into consideration the policy, blueprint and current development plan. Various initiatives will be initiated encompassing the Blue Economy initiative and each state development agenda under the 13MP,' he said. Despite the various successes through the Hala Tuju SMJ initiatives and positive figures from all the released data to date, Hajiji said the State Government must not rest on its laurel and become complacent. 'We must continue to work hard and be more proactive. All state leadership, heads of department and heads at district level must go down to the ground more frequently to monitor ongoing programme or project implementation. 'This is important to ensure all programmes are done well and thoroughly,' he said, adding that this year 1,265 projects and programmes must be completed in Sabah. 'All the implementing agencies must constantly monitor these projects' progress and ensure they are completed according to schedule,' he said. According to him, Sabah is among the highest recipients of the national budget, with RM6.7 billion allocated by the Federal Government this year. 'This proves that the voices of the people and leaders of Sabah are heard at the federal level. It also demonstrates that we are very serious and will strive to boost the state's development,' he said. 'We must do a paradigm shift to ensure the success of all our plans. We should do away with outdated processes and we must change attitude that focus on the negatives without evaluating or crediting the successes or contributions made to the state,' he said.
