Sabah's RM124.06 million budget allocation paves the way for industrial growth

KOTA KINABALU: A substantial allocation of RM 124.06 million underscores the government's dedication to the continued development of Sabah's industrial and manufacturing sector.

State Industrial Development and Entrepreneurship minister Datuk Phoong Jin Zhe referred to the state 2024 Budget tabled by state Finance Minister Datuk Seri Masidi Manjun today.

He also acknowledged and commended the government's unwavering commitment to industrialisation and investment promotion.

"A significant portion of the budget, RM 38 million, is earmarked for KKIP Sdn Bhd, SOGDC, POIC Sabah, and Sabah Economic Development Corporation (SEDCO) to facilitate investments.

"Out of this, RM 28.79 million is allocated for upgrading infrastructure, ensuring a more conducive environment to attract further investments," he said in a statement.

Phoong also commended the RM15 million allocation for the SME-UP programme, emphasising the government's commitment to empowering small and medium entrepreneurs.

He said the funding will support entrepreneurs with grants for machinery, digitalisation, MeSTI and Halal certification, and packaging services, fostering growth and innovation.

A special budget allocation underscores the government's dedication to helping more entrepreneurs participate in international expos and business summits.

That initiative aims to promote Sabah's local products on a global scale, contributing to increased exports.

"This special initiative is important. We have witnessed the success of Sabah's local 'Amplang' exported to Japan through the Malaysia Tokyo Fair 2023. Such an initiative will help to bring and showcase more Sabah products on various international markets."

Most Popular
Related Article
Says Stories