Sabah Economic Model: An Overview

Abstract

Since the formation of Malaysia in 1963, Sabah has accomplished many things in terms of economic development. Infrastructure has improved. Per capita income has increased by many folds. Poverty rate has also been reduced significantly. In addition, Sabah has become one of the biggest producers of petroleum, rubber and cocoa in Malaysia and palm oil in the world. The trade performance is no exception. Sabah's trade was recorded to be US$154.4 million in 1962 (R. Idris, 2015) while in 2011 the trade value was reported to worth approximately US$27.3 billion (R. Idris, 2015). Despite all these, some argue that Sabah should and could have done better. Some even claim that Sabah is still backward compared to many other states in Malaysia. In this regard, some view that Sabah's economic performance is 'underperforming' due to inadequate allocation from the federal government, lack of autonomy in decision-making and infrastructure, among other things. this study proposes a general economic model that should be looked into when discussing the factors that influence Sabah's economy. In addition, a business model is being proposed for the economy of Sabah. It hopes to guide stakeholders to look at the economy from a broader perspective. Here are some recommendations for various stakeholders to consider.

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