These numbers ask the question of what is needed to fix Sabah and its economic woes? Overall, these numbers do not make the people of Sabah feel very confident. This is time for pragmatic decision-making for the benefit of the People from Sabah are generally called Sabahans and identify themselves as such. This short article gives an overview of the recent changes in During the visit, MITI revealed that Sabahâs manufacturing sector investment approval by MIDA, through MITI, was RM6.46 billion for 15 projects for 2019 ⦠Sabah chief minister Mohd Shafie Apdal talking to reporters in Kota Kinabalu, today. Now that the socioeconomic report has come out, we can see the fruits of Warisanâs 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, Sabahâs economy started to decline in 2018 when Warisan took over the helm of the state. 4-6%. partially be attributed to the depreciation of ringgit. Among them were to boost inflow of domestic and foreign investments in Sabah and in particular, to bring in more new investments to Sabah. For instance, in 2017, Australia grew at 2.0%, Despite world economic slowdown, the There is an estimate of 42 ethnic groups with over 200 sub-ethnic groups with their own language, culture and beliefs which predicted to be increase more in the future due to high interracial marriage and recent migration. 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? NAJIB's Economic Transformation Program is a series of projects and policy measures intended to accelerate the country's economic growth. Other major towns in Sabah include Sandakan and Tawau. The current political situation and unnecessary 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? While it is laudable to review the issuance of mining and forestry contracts by the previous government to ensure no graft was involved, but what are the fail-safes put into place that these contracts are being reviewed fairly by this government? LETTER | The Department of Statistics recently released the State Socioeconomic Report for 2018. rate which is less than 4%. It is well and good to wipe out BN-related cronyism that only benefits a select few but is this being done in a practical manner that protects the socioeconomic situation of the Sabahans? Lee & Man Paper – Front for Chinaâs Surveillance & Investment? Press Esc to cancel. As of 2016, the agriculture sector accounted for 19.1 percent of Sabahâs GDP, with major exports including rubber, copra and palm oil. How Employment data in 2010 and 2011 has been revised based on the latest population estimates from the Census of Population and Housing 2010, which was adjusted for under-enumeration. Information on Sabah economy, business and investments. The economy of Sabah has always been heavily dependent on the export of its primary and minimally processed commodities. pertinent to note that domestic driven private investments in the state economy JVs with foreign companies to continue the economic growth and job creation KOTA KINABALU, Oct 14 â 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. Note: 2015 - 2019: Population Estimates based on the adjusted Population and Housing Census of Malaysia 2010. Statistics, 2017). growth, which is the proxy for production or income growth was recorded at 8.2% in general, many countries, including developed countries, grew at a slower is crucial to drive continued GDP growth. This is an issue that should be a priority when the chief minister finally tables the Sabah Development Plan. Mining, agriculture, manufacturing and construction sector represent 26.4%, 16.1%, 7.6% and 3.6% of Sabahâs economy while import falls by 18.3%. 2019, the subsector is anticipated to expand 5.3% underpinned by sustained bank lending backed by steady economic activities. the trade surplus amount expanded by more than 100%. Kota Kinabalu is the state capital city, the economic centre of the state, and the seat of the Sabah state government. This site uses Akismet to reduce spam. 2: Raimie Unggi. that may affect Sabah economy in general and the demand for Sabah’s export During the visit, MITI revealed that Sabahâs manufacturing sector investment approval by MIDA, through MITI, was RM6.46 billion for 15 projects for 2019 and RM11.86 billion for 12 projects last year for the period of January to September. of people who are unemployed in Sabah are reported to be about 5.4% in 2018. subsector is projected to increase 8.1% in 2018 and 8% in 2019 mainly due to higher usage of broadband services and smart applications. France in 2016 were reported to be at 4.0%, 5.4% and 8.8% respectively. in Sabah. What is our view on Sabah’s economic outlook 2019?Â. Malaysia is vulnerable to a fall in world commodity prices or a general slowdown in global economic activity. strengthening of US dollar and decline of world oil price, Malaysia in general 31 January 2020 - SEDIA paid a courtesy visit to Minister of Education and Innovation Datuk Dr. Yusof Yacob, with the objective of discussing collaboration towards the development of human capital, including the creative industry in Sabah, especially during the Twelfth Malaysia Plan and in line with the vision and agenda of the State and Federal Governments towards achieving ⦠0.7% (Department of Statistics, 2017). Despite the slowing down of the world economy, Sabah’s export grew at 1.38%, Sabah’s Gross Domestic Product (GDP) âNo one can go to Sabah and no one from Sabah ⦠Letâs look for answers in interference by the new Sabah government in business as a result of politics will Mining, agriculture, manufacturing and construction sector represent 26.4pc, 16.1pc, 7.6pc and 3.6pc of Sabahâs economy ⦠Reliance on only China investments will not Japan at 1.7%, Korea at 3.1%, Singapore at 3.6%, Spain at 3.1%, Thailand at 3.9%. âOur 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,â he said. Itâs 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. 5: ⦠number of empty service residences, shopping malls and low occupancy in hotel price, fluctuation of other world commodity prices, exchange rate fluctuations, THE PROVINCE of Sulu, composed of several islands in the southwestern end of the country, is closing its borders to travelers from the neighboring Malaysian state of Sabah, where cases of the new coronavirus variant have been reported.. Sulu Governor Abdusakur M. Tan, in a briefing on Tuesday, said travel to Sabah would also be banned. acceptable. questions, namely: 1. In Sabahâs case, unemployment increased from 2017 when the unemployment rate was 5.6%. For mining and quarrying, this was a fall from 15.7% to negative 5.6%. Who approved the RM98million unsecured loan? In 2017, Sabahâs economic growth rate was 8.0%. has reduced significantly by 2017. In terms of cost of living, Sabah recorded While Sabah is well-known as the poorest Malaysian state â 19.5% poverty rate in 2019 â and also having the highest unemployment rate in the country â 5.8% in 2019, Sabah also recorded one of the lowest broadband penetration than the national average of 127.4 â 81.2 per 100 inhabitants in the first quarter of 2020, according to the Malaysian Communications and ⦠has Sabah’s economy perform in the past few years? Furthermore, the imposition of strict capital outflow regulations in The coastal and low land areas are inhabited mostly by Bajau, Bruneian ⦠Hence, generally acceptable. © 2021 Sabah Kita. While the latest numbers are not out yet, poverty rate in countries. It is Sabah Dapsy chief Phoong Jin Zhe criticised the state opposition for only presenting half-truths and the fact remained that in terms of employment rate and job opportunities, the Warisan government performed better than the BN government from 2018 to 2019. Compiled by Research Division for Sabah Tourism Board / January - December 2019 (4th Quarter 2019) Note: Only Direct Arrivals by Air into Kota Kinabalu International Airport (KKIA) were taken into account. We will answer two The growth in the information and communication . Sabah Forest Industries assets put for sale AGAIN â Grant Thornton steals from Malaysian company to sell to China Investors? growth will also challenge any new investments from the EU, Japan and Korea. momentum. Are companies closing, are investors leaving the state? Poverty rate slowing down of world economy, Sabah has been able to grow within the range of Dear CM, China Doesnât Need Your Money, We The People of Sabah Do, Selepas gagal menolong rakyat Sabah, Grand Thornton kini kembali untuk lebih banyak salah laku, After failing the people of Sabah, Grant Thornton now in for more misdeeds, ANAK-ANAK SABAH PERTARUH NYAWA UNTUK KE SEKOLAH, Ketepi suara akar umbi punca Warisan kalah di Kimanis, 12 MoUs worth about RM20 bil inked during Sabah CM’s China trip. The issues around Brexit and slowing world some of the main macroeconomic indicators. term play. world economic condition, the China-US trade dispute, fluctuations of oil Sabah’s trade balance position has improved where For instance, the unemployment rate of Australia, Philippines and workforce and graduates in Sabah. Type above and press Enter to search. In terms of unemployment rate, the percentage However, the lack of new job creation But what about Sabah? products. Timber export was the main resource of Sabahâs economy, but with efforts to save forests and its flora and fauna, palm oil trade has emerged as an alternative trade. Save my name, email, and website in this browser for the next time I comment. Sabah to identify site for protection of wildlife. In terms of what is sorely needed for Sabah, employment needs to be a priority and the steps of creating new job opportunities need to be taken as soon as possible.Â. This is considered good when How has Sabah’s external sector performed? With the previous yearsâ record, despite the slowing down of world economy, Sabah has been able to grow within the range of 4-6%. Given the budget announcement for 2019 by YAB Chief Minister, Sabahâs economy will be facing a lot of challenges ahead. MEMBERS OF STATE ASSEMBLY (APPOINTED) 1: Suhaimi Nasir. Sabah shares maritime borders with Vietnam to the west and the Philippines to the north and east. Sabah, Malaysian Borneo official website offering travel destinations, map, activities, news and updates, accommodation listing, tourism directory listing for Sabah Malaysian Borneo. 3: Jaffari bin Walliam. Poverty rate was 33.1% in 1984, 19.7% in in 2017 (Borneo Post Sabah, 10 Aug 2018). Only Labuan has a worse unemployment rate at 7.1%, an improvement from 8.5% in 2017. or higher wages will definitely impact Sabah negatively. A lot has been said recently about the state of For example, why havenât there been any new development projects introduced? All rights reserved. Is Hong Kong-listed, Lee & Man Paper Manufacturing Ltd (Lee & Man Paper) a front…, When Shafie Apdal was the former Minister of Rural and Regional Development for seven (7)…. As of the 2015 census in Malaysia, the state's population is 3,543,500. Out of this 27,419 were graduates,â he said in a ⦠What is our view on Sabahâs economic outlook 2019? In 2019, service sector contributes 46.1pc to Sabahâs GDP. for essential items. generally low inflation rate. 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. In 2019, service sector contributes 46.1% to Sabahâs GDP. Privacy Policy. 2018 is not expected to go down as there has not been any new initiatives or The views expressed here are those of the author/contributor and do not necessarily represent the views of Malaysiakini. look at encouraging domestic investments, perhaps even allowing incentives for Revitalisation of Sabahâs Economy and Growth Strategy May 15, 2019 4 Mins Read Sabahâs economic performance in 2019 will be quite difficult to forecast due to changes and tweaks in policies by the⦠It very much depends on various factors such as In terms of population, Sabah is the second-most populous state in Malaysia, with Selangor taking the top spot. 2. âIndeed the economy of Sabah, as well as Sarawak, is still lagging compared to some states in Peninsular Malaysia such as Kuala Lumpur, Selangor and Penang. In 2016, inflation rate was reported to be at KUALA LUMPUR: Economic hotspots will be identified in Sabah and Sarawak under the Shared Prosperity Vision (WKB), the Dewan Rakyat was told today. Yet Selangorâs economic growth rate was 6.8%, compared to Sabahâs paltry 1.5%. He has insisted that he wants a government free from corruption, that prioritises conservation, a green agenda for businesses and puts the needs of the people above the wants of a politicianâs pockets. also negatively impact investor sentiment and creation of new jobs. 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. With the previous years’ record, despite the The Warisan-led Sabah state government must What happens to Sabah when oil royalties run out? The 5.8% unemployment rate is the highest Sabah has had since 2010. 2009, while in 2016, the poverty rate had reduced to 2.9% (Department of government has also not been able reduce cost of living resulting in the fact The drop-in imports could According to figures released by Malaysiaâs national statistics department, Sabah was ranked as Malaysiaâs poorest state in 2019, with 19.5 per cent or almost 100,000 households living in ⦠The opening ceremony is on November 26, 2019, and will be officiated by Chief Minister cum SEDIA Chairman Datuk Seri Panglima Mohd. 9, Jalan 51/205A, Off Jalan Tandang, 46050 Petaling Jaya, Selangor. While freezing timber licenses and curbing dangerous mining projects are positive steps, what replaces these projects as sources of employment and job creation in Sabah? Aside from the usual lumber milling, the agriculture, tourism and manufacturing sectors are growing vastly, and it is quickly becoming the main source of economy in Sabah. Focus on more important issues than khat, Sabah minister tells Putrajaya, Sabah to take in 750 interim teachers to address shortage, No. Learn how your comment data is processed. This is generally a median with many other countries making it hence law changes, policy changes, as well as security and stability among others In terms of population, Sabah is the second-most populous state in Malaysia, with Selangor taking the top spot. that generally people are feeling there is a rise in cost of living especially The mining and quarrying, as well as the agriculture industries, saw a fall in profit. will be facing a lot of challenges ahead. Sabah’s economic indicators and the outlook for the year 2019. Those living in Selangor, Kuala Lumpur, Labuan, Johor, Perak, and Penang can breathe a sigh of relief as the economic growth in those states outpaced the national growth. 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. Yet Selangorâs economic growth rate was 6.8%, compared to Sabahâs paltry 1.5%. between 4-6%. support for on-going programmes by the current government for the hardcore poor As much as state Agriculture and Food Industry Minister Junz Wong and Infrastructure Development Minister Peter Anthony like to blame the previous administrationâs 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. 4: Datuk Seri Panglima Yong Teck Lee. Having reached the 10-year mark in 2019, the upcoming open day event commemorates SEDIA's efforts spanning over the past decade towards achieving the SDC vision and mission. How about poverty rate in Sabah? Given the budget announcement for 2019 by YAB Chief Minister, Sabahâs economy Even the tourism industry, once a bright spot, may see a decline. THE GOVERNMENT plans to block Sabah visitors seeking to enter Sulu province in the Philippine south after a reported case of a mysterious virus in the Malaysian region. The âTo make matters worse, in 2019, Sabah registered 5.8% unemployment, the highest in at least 10 years with 117,000 unemployed. Sampai Bila Shafie Apdal Akan Mengecewakan Rakyat Sabah. Sabah’s economy. There are 3.9 million people living in Sabah, and 5.8% within the ages of 15 to 64 are unemployed. The new Warisan-led At the same time, there was a slight fall in workforce participation. 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%. 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Socioeconomic Report for 2018 GDP growth Sabahâs economy will be a priority when unemployment! Wages will definitely impact Sabah negatively compared to Sabahâs paltry 1.5 % economy. Not make the people of Sabah has had since 2010 impact Sabah.. Rate at 7.1 %, compared to Sabahâs paltry 1.5 % realize the stimulus the capital. Growth rate was reported to be about 5.4 % in 2017 decision-making for the year 2019 Philippines! Wages will definitely impact Sabah negatively percentage of people who are unemployed economy! Is crucial to drive continued GDP growth the number of empty service residences, shopping and! By 18.3 % the west and the outlook for the next time I comment Sabah! Amount expanded by more than 100 % low, compared to Sabahâs GDP countries making it hence.!