GRS targets RM10 bln annual revenue for Sabah by 2030

KOTA KINABALU (Nov 17): Gabungan Rakyat Sabah (GRS) aims to raise Sabah’s annual revenue to RM10 billion by 2030 if it receives the people’s mandate in the 17th Sabah state election.

Speaking ahead of the coalition’s manifesto launch here today, GRS deputy secretary-general Datuk Armizan Mohd Ali said the goal is achievable on the back of the state’s sustained growth over the past four years and a renewed focus on long-term economic reform.

He said the target builds on what he described as a clear and proven momentum in state revenue performance since 2021, noting that under GRS, Sabah’s revenue had grown sharply, almost doubling compared with the last year Parti Warisan (Warisan) was in power.

According to him, Sabah’s revenue rose from RM3.59 billion in 2020 to RM6.87 billion in 2024, marking an increase of RM3.2 billion or 90.5 per cent.

“This is the foundation of our confidence. We are not offering rhetoric. We are showing results, and we want to carry that forward,” he said.

As part of its long-term strategy, GRS will also introduce Sabah’s first sovereign wealth fund should it secure a new mandate.

The fund, to be established through a dedicated state enactment, will draw its initial capital from Sabah’s strengthened reserves and receive yearly injections from the state’s 40 per cent revenue entitlement once realised.

Armizan said the vision is to create an intergenerational financial safety net that shields future Sabah administrations from volatile commodity cycles and ensures sustainable funding for development.

“We want our children and grandchildren to inherit a Sabah with a stronger, more stable economic foundation.

“This is about responsible stewardship, not just for today, but for decades ahead,” he said.

Armizan also highlighted Sabah’s sharply strengthened fiscal position as a key achievement of GRS’ five-year administration, pointing to a near tripling of state reserves as proof of improved financial management.

He said Sabah’s reserves stood at RM2.9 billion in 2020, the final year of the previous government, but have since risen to RM8.6 billion as of September this year.

According to him, the surge in reserves is directly linked to the state’s stronger revenue performance under GRS, with annual income surpassing the RM5 billion mark for the first time in Sabah’s history in 2021 and continuing to grow.

“These fiscal gains form the foundation for GRS’ next-phase agenda under SMJ 2.0, positioning the state to pursue larger, more strategic investments in the years ahead,” he said.

GRS will outline the full framework of its 2026–2030 development agenda through the SMJ 2.0 roadmap, which incorporates revenue diversification, blue-economy expansion, digital growth and institutional reforms designed to strengthen governance and investor confidence.