Media Release

Ministry of Finance

2017 Budget Focus Group Meeting:

Sarawak Development

Date : 22 August 2016

Time : 10.00 am – 1.00 pm

In conjunction of the upcoming 2017 Budget on 21 October 2016, Ministry of Finance has initiated series of Focus Group Meetings to discuss significant issues and obtain views as well as recommendations for the 2017 Budget consideration. One of the Focus Group Meeting is on Sarawak Development chair by Deputy Finance Minister II,  YB Dato’ Lee Chee Leong.  The meeting involved various stakeholders including Federal agencies, Sarawak state agencies and statutory bodies, academia as well as Sarawak non-government organisations.

Over the last five years, Sarawak economy registered a positive growth and has made a great contribution to Malaysia economy. Sarawak GDP recorded a steady growth of 10% since 2010, mainly contributed by the services, manufacturing, mining and quarrying and agriculture industry. The expansion of Sarawak economy underpin by huge capital investment amounting to RM44.6 billion since 2011 until March 2016. In addition, Sarawak also received large allocation from Federal Government to further develop the economy. From 2010 until 2014, Sarawak received RM57 billion consist of operating expenditure, development expenditure and grant.

In tandem with Malaysia’s effort to become a high-income and developed nation by 2020, Federal Government gives main priority to Sarawak to improve the economic and social well-being.  The 2016 Budget has allocated RM29.2 billion for Sarawak and Sabah development programme including Pan Borneo Highway. The 1,089 kilometre toll free highway will provide better connectivity and close the gap between urban and rural areas in Sarawak. Moreover, the 70,000 square km of Sarawak Corridor of Renewable Energy (SCORE) will provide 1.6 million additional jobs in the industrial area. In addition, to enhance the wellbeing of the rakyat in Sarawak, Government provides BR1M to 735,817 recipients amounting RM549,839,800 in 2016.

-MCA Online-