Greater Efforts Needed To Ensure Sustainable Growth In Malaysia's Sabah, Says MoF

KUALA LUMPUR, Aug 25 (Bernama) -- With four years left for Malaysia to become a high-income and developed nation, greater efforts are needed to properly address growth challenges and ensure sustainable and, inclusive growth in east Malaysian state Sabah. The Ministry of Finance (MoF) said with an abundance of natural resources as well as its strategic position in east Malaysia, Sabah has lot of potential in expanding its economic growth. "Sabah has an estimated population of 3.8 million, it contributed about 6.5 per cent to Malaysia's Gross Domestic Product (GDP) growth, equivalent to US$16.37 billion (RM66 billion) in 2014," it said in a statement. Furthermore, the Pan-Borneo Highway, which begins in the district of Sematan in Sarawak (another east Malaysian state), would increase access to areas of economic growth and accelerate further development in both states, it added. "The projects implemented in the regions of Sabah and Sarawak along with ongoing programmes under the Government Transformation Programme, Economic Transformation Programme and Rural Transformation Programme, as well as, initiatives announced in the annual budgets are expected to generate more vibrant economic growth and job creation. "The government will also continue to ensure balanced and equitable development for all states," the ministry added. --BERNAMA