KOTA KINABALU: Sabah's master plan for socio-economic development will concentrate on new technologies to stimulate the state economy, Deputy Chief Minister Datuk Dr Jeffrey Kitingan said.
He said the ambitious new plan would take into consideration the unprecedented growth in technology and accordingly develop infrastructure to digitalise Sabah at an accelerated pace.
"It is hoped the development of infrastructure would stimulate not only the conventional market in Sabah but also other economies, including the sharing economy, online trading, social media and online retailers," he said in a statement.
Jeffrey said such a move was also aimed at bringing the state into the Fourth Industrial Revolution (IR 4.0).
IR 4.0 is the growing utilisation of technologies such as artificial intelligence, cloud computing among others that could increase productivity, greater safety for workers and enhanced decision-making, as well as enhanced competitiveness.
Jeffrey said the new strategic plan would be financed via sales tax from petroleum which is expected to generate at least RM800 million annually as well as foreign investments.
"This means a deficit budget is unavoidable. We need to move and stimulate the economy, develop the state and prosper the people. Thus, an expansionary budget is necessary," he said.
Jeffrey said such a plan was necessary even though the state was battling the Covid-19 pandemic.
"The government is doing its best to assist everybody, from all walks of life. However, at the same time, we cannot neglect our economy because once this is all over, we have to rebuild our lives and our economy.
"We need to rise from the ashes of this war... the sooner, the better," he said.
Additionally, he said Sabah must be ready to take advantage of Indonesia's new capital in Kalimantan and work together with its neighbours to compete nationally and regionally.
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