Private sector investments help boost Perlis's GDP, post-pandemic

KANGAR, Aug 10 (Bernama) — The implementation of development projects, especially infrastructure and facilities, by the Perlis government has been the catalyst to the increase in private sector investments in the state.

This has raised the state’s gross domestic product (GDP) after the COVID-19 pandemic, with its GDP in 2021 up by 1.5 per cent or RM5.9 billion, said Menteri Besar Datuk Seri Azlan Man.

“Perlis’s GDP was down by six per cent in 2019 and in tackling this, the state government has undertaken various efforts to get the economy back on track,” he said on the second day of the State Legislative Assembly sitting, here.

He was responding to a question from Datuk Ismail Kasim (BN-Tambun Tulang) on the state government’s performance in the recovery effort since entering the endemic phase.

 Azlan (BN-Bintong) said the services sector was the biggest contributor to the state’s GDP in 2021 at 70.2 per cent, agriculture (17.4 per cent), manufacturing (8 per cent), construction (2.6 per cent), and mining and quarrying (0.5 per cent).

“We have also introduced the post COVID-19 investment incentive package that covers the fiscal and non-fiscal elements in order to attract more investors to the state.

“I am confident that the role played by the private sector will contribute to a higher GDP this year and the following years. Up to July 2022, foreign investments in this state had reached 25.16 billion,” he added.

Azlan said to further boost the economy, the state government had introduced the economic stimulus package with an allocation of RM10 million involving 338 small projects being implemented by the state’s various departments and agencies.

“The state government has also allocated RM19.6 million to help finance 448 small projects under the Strategic Programme to Empower the People and Economy (PEMERKASA).

— BERNAMA

               

<!—->
[embedded content]


<!–span class="text-danger font-weight-bold">DISCLAIMER<br–>


Bernama is the trusted source of reliable real-time comprehensive and accurate news for both the public and media practitioners. Our news is published at www.bernama.com ; BERNAMA TV on: Astro Channel 502, unifi TV Channel 631, MYTV Channel 121 IFLIX; and Bernama Radio broadcasting locally on FM93.9 in Klang Valley, Johor (FM107.5), Kota Kinabalu (FM107.9) and Kuching (FM100.9).

Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial

Leave a Reply

Your email address will not be published. Required fields are marked *