Picture Credit: Daily Express
Sabah Economic Advisory Council (SEAC), Universiti Malaysia Sabah (UMS) and Institute for Development Studies (Sabah) will assist the Sabah government.
KOTA KINABALU: The State Government will take into consideration proposed research on a new economic model by the Sabah Economic Advisory Council (SEAC) in collaboration with Universiti Malaysia Sabah (UMS) and Institute for Development Studies (Sabah).
"We are open to the proposal to help the State economic grow better," said Chief Minister Datuk Seri Hajiji Noor after being briefed on the proposal at Menara Kinabalu, here, Thursday.
He also urged the SEAC to conduct thorough research through engagement with all state ministries and stakeholders.
This Article first appeared here . . .
Editor's Note . . .
Malaysia should not reinvent the wheel on the economy.
Sabah can eradicate poverty once and for all if the Federal government enlarges the consumer economy by pumping money directly into the pockets of those living below the poverty line in the money economy and those living outside the money economy.
At the same time, the government should manage the supply side of the economy. The new money will not fuel inflation. Ideally, inflation should be kept at 2 per cent per annum.
Chinese factories in Sabah can help increase local production.
The government can also increase supply by allowing imports from cheaper sources, based on bilateral trade denominated in local currencies. The US$ should be kept out of the picture.
These currencies, retained in Sabah or abroad, can be invested locally and/or used for imports.
