Malaysia Property News is a free resource website sharing Daily Property News & information about Property in Malaysia, which related to, Property Market, Property Investment, Commercial Property , Hot Properties Malaysia, Real Estate, Retail Shop, Business Park, Condominium Malaysia, Terraces & Apartment Malaysia, Houses, Residence, Resort and many more.

Monday, November 19, 2007

Development corridor boost for Sabah

SABAH'S RM2.3 billion budget for next year, the biggest ever in the history of the state, augurs well for the implementation of the much anticipated Sabah Development Corridor (SDC).

The budget, unveiled by Sabah Chief Minister Datuk Seri Musa Aman last Friday, took into account the requirements to hasten the implementation of the SDC.

Expected to be launched by Prime Minister Datuk Seri Abdullah Ahmad Badawi next month, the SDC is poised to steer Sabah's economic development to greater heights.

Noting that excellent infrastructure was key to the success of the SDC, Musa said a whopping RM313 million of the RM839 million proposed for development expenditure would be allocated for the purpose.

Human capital development is also being given priority with RM200 million allocated for the establishment of the Sandakan Education Hub.

A separate allocation of RM55.8 million has been set aside for human resource development programmes to meet the requirements of the state, including the SDC.

"The SDC would be comprehensive and holistic to bring maximum development and economic spin-offs to the state", Musa told Business Times.

Besides creating economic spin-offs, the SDC will also generate employment opportunities for people in the urban and rural areas.

Musa attributed the state's ability to provide a huge budget to prudent and sound financial management that have seen in a marked increase in revenue.

This was reflected by this year's revised revenue of RM2.2 billion as against the original estimate of RM1.8 billion.

Musa, who is also the State Finance Minister, expects Sabah's revenue to continue to improve and has projected earnings of RM2.3 billion for next year.

The state is also on a sound financial footing with more than RM2.3 billion in reserves, a massive increase from just RM845 million in 2005.

By New Straits Times (By Joniston Bangkuai)

No comments: