2020 State Budget — In a nutshell
Themed “Accelerating Development for the Wellbeing of All Sarawakians”, the 2020 State Budget allocates RM9.891 billion of which RM6.597 billion is for Development Expenditure and the remaining RM3.294 billion is for Operating Expenditure.
The 2020 State Budget continues with the following six key strategic thrusts aimed at stimulating the growth of the State economy towards an inclusive, sustainable and equitable development for all spectrums of the society.
* Development Bias And Rural Focus
The 2020 Development Budget will continue to be rural-biased which aims to ensure no one is left behind. A sum of RM4.141 billion or 63 per cent allocation will be provided for the development in the rural areas.
* Unifying State Development Agenda
State will vigourously continue to pursue its development agenda towards achieving a high-income economy by 2030 using Sarawak’s own mould. Considerable allocation will be made for the provision of basic facilities and amenities including roads and bridges, rural water and electricity supplies, as well as other people-centric projects under the Eleventh Malaysia Plan and this will continue under the Twelfth Malaysia Plan.
* Digital Economy Key Enabler For The Economic Transformation
Digital economy will continue to be the main enabler in the effort to transform Sarawak into a knowledge-based and innovation-driven economy. The Sarawak Digital Economy Initiatives will be intensified further through the creation of a comprehensive digital ecosystem, talent development and entrepreneurship culture.
* Investment Driven Economic Growth Through To Enhance Investment Base
The State will also continue to spur its economic development through further broadening of its investment base. These investments will focus on higher value-added activities in the manufacturing and services sectors, as well as resource-based industries such as oil and gas, agriculture, bio-tech, and timber processing industries. On top of the Federal investment incentives, the State also offers an attractive incentive package in terms of competitive price of land, competitive electricity tariffs and water rates, low down payment for purchase of industrial land, and provision of facilities to ensure a conducive investment climate.
* Private Sector As Catalyst For Economic Development
Private investment is a key catalyst for economic growth. As such, the State will continue to ensure that the required business infrastructures and business-friendly policies are being put in place to attract and facilitate private sector investment. The completion of major infrastructure projects and public facilities and amenities throughout the State would enable the private sector to play their part as the primary engine of the State economic growth.
* Enhancing State Government’s Service Delivery Via Digitalisation
The State will continue to embark on the implementation of Digital Government to further enhance government service delivery such as providing cashless payment gateway, one-stop online services, and open data system. The State has also set out to improve its administrative infrastructure facilities in order to enhance its service delivery to the rakyat.