CM Datuk Seri Mohd Shafie Apdal (front, middle) with officials and participants during the World Islamic Economic Forum (WIEF) Foundation Roundtable Kota Kinabalu 2020 opening ceremony yesterday. Also seen are WIEF secretary general Tan Sri Ahmad Fuzi Abdul Razak (third left) and DCM Datuk Seri Wilfred Madius Tangau (third right).
KOTA KINABALU: The State Government will announce its own economic stimulus package next month to mitigate the impact of the coronavirus (Covid-19) outbreak at the state level.
Chief Minister Datuk Seri Shafie Apdal said that the package would ensure liquidity and help spur the economy in Sabah in light of the current economic crisis caused by the outbreak.
Speaking to reporters during the World Islamic Economic Forum (WIEF) Foundation Roundtable Kota Kinabalu 2020 opening ceremony yesterday, Shafie said that Sabah would announce new policies to help businesses in the state stay afloat during the economic crisis.
“This initiative will be realised by early next month. I have conducted discussions with several groups a couple of days ago.
“I am quite sure that this is one of the initiatives that we should be looking into – on how best we can position ourselves to face the economic turbulence,” he said.
“I know the Federal Government had already announced its stimulus package amounting to RM20 billion so I am quite sure that there will be spillover of that package into many states including Sabah,” he added.
However, Shafie is positive that the Covid-19 virus outbreak would not be a long term crisis and he is certain that the state would be able to overcome the challenge.
Separately, Shafie said the WIED Roundtable would address the business and investment opportunities in the state.
“I am confident that our policies and incentives will help persuade you (the delegates) to consider doing business here in Sabah,” he said.
Among those present in the opening ceremony were WIEF secretary general Tan Sri Ahmad Fuzi Abdul Razak and Deputy Chief Minister Datuk Seri Wilfred Madius Tangau.