Kota kinabalu: The Sabah Blue Economy is estimated to yield 491,000 tonnes of marine harvests such as fish and prawns annually, with a value of RM3.25 billion, said Chief Minister Datuk Seri Hajiji Noor. He said marine harvesting is one of 14 components of the Blue Economy that can be explored, such as renewable ocean energy, blue carbon, tourism, maritime transport, and marine biotechnology, among others.
According to BERNAMA News Agency, the chief minister elaborated on the potential of the Blue Economy during a speech at the International Business Review (IBR) ASEAN Awards. The speech, delivered by Sabah Finance Minister Datuk Seri Masidi Manjun, emphasized that there is more to the Blue Economy than deep-sea harvesting. One of the notable components mentioned was Ocean Thermal Energy Conversion (OTEC), which harnesses energy from the oceans. OTEC power plants are planned to span 500km of coastline, with a goal to generate 20,000MW of green energy, marking an unprecedented scale globally.
The Blue Econom
y Industrial Park has been established in Kudat, as part of three new industrial parks approved by the state government. These parks, located in Kota Belud and Beaufort as well, are strategically positioned to boost investment opportunities. Since September 2020, Sabah has recorded RM17.41 billion from 73 companies in approved foreign and domestic investments in the manufacturing sector. Of these, 52 companies have already set up businesses with a total investment of RM7.8 billion, creating 3,636 jobs.
Between 2022 and 2024, Sabah received new investment proposals worth an additional RM42.3 billion, projected to create 32,996 jobs. Additionally, the state has forged a Commercial Collaborative Agreement with Petronas, enhancing its participation in the oil and gas industry. This agreement includes 50 per cent equity from the Samarang oil and gas field, 25 per cent equity from Samur, and 25 per cent equity in a US$3.1 billion floating liquefied natural gas investment in Sipitang.
To support these growing inve
stments, the state government launched the Sabah Energy Roadmap and Master Plan 2040, aiming to generate 700MW within the next 1 to 2 years. The government also allocated RM679.85 million in 2024 to address immediate water shortages, with long-term plans including the completion of Ulu Padas hydropower.
At the event, nine winners were announced, including Institut Jantung Negara for corporate excellence in healthcare and Sabah Port Sdn Bhd for corporate excellence in logistics. Negeri Sembilan was named the Most Progressive State in Malaysia in 2024, while Sabah received recognition as the Most Outstanding State in Malaysia for 2024.