Sabah’s growth has been positive since the launch of the Sabah Development Corridor (SDC), according to Chief Minister Datuk Seri Panglima Musa Aman.
Speaking at the launching ceremony of the SEDIA MS ISO 9001:2008 Quality Certification and Annual Report meeting in Kota Kinabalu today, Musa disclosed that the implementation of the SDC has led to a significant restructuring and expansion of the State’s economy and especially the services sector.
“The contribution of the services sector has steadily increased from 42.3 percent of GDP in 2008 to 47.4 percent in 2012,
“Tourist arrivals to Sabah last year reached 2.88 million, contributing about RM5.3 billion, compared to 2.3 million tourists with receipts amounting to RM4.06 billion in 2008,” Musa said.
Sabah is also emerging as a preferred destination for Foreign Direct Investments (FDI), attracting investments from foreign companies such as the US-based Darden Incorporated – a company investing RM2 billion in the Integrated Lobster Aquaculture Park, Musa added.
According to the Chief Minister, household incomes in the State has also significantly improved, with the average household income in 2012 at RM4, 013 per month, which is a 40 percent increase from RM2, 866 in 2007.
“Following the launch of the SDC and the implementation of its poverty eradication initiatives, the State has seen a reduction in poverty from 24.2 percent in 2004 to 19.7 percent in 2009 and 8.1 percent at the end of 2012,” he said.
Based on its performance so far, Musa is confident that the SDC is on track to achieve its objectives of creating sustainable economic growth as well as improving income and socio-economic standards. He urged Sabahans to support the SDC and ensure that investments and development projects under the Corridor are effectively implemented.