Kota Kinabalu: Sabah’s strategic geographic location and its economic potential require some fresh perspectives in response to regional, global geo-political scenarios and the changing development needs of Sabah, said Nominated Assemblyman, Datuk Seri Yong Teck Lee (pic).“New developments at home and further afield is opening up new opportunities in hastening the achievement of our development goals, such as the industrialisation target set out in our Budget 2021,” said Yong, who is also SAPP President.
The Budget, themed ‘People’s Prosperity, Sustainable Economy’, was tabled by Chief Minister cum Finance Minister Datuk Seri Panglima Hajiji Mohd Noor. It sought an allocation of RM4.48 billion and, among other objectives, aimed to achieve a huge leap in the role of industrialisation in the State Gross Domestic Product (GDP).
In 2019, Sabah’s GDP attained RM85.4 billion with industrialisation contributing only 7.6pc, or RM6.47 billion. The government wants to improve this figure to 35pc by 2030.
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