KOTA KINABALU – Sabah wants to turn the east coast region into a new economic growth hub due to its proximity to other East Asean Growth Areas (EAGA), said Chief Minister Datuk Seri Hajiji Noor.
He said state agencies like the Palm Oil Industrial Cluster Sabah Sdn Bhd have positioned its industrial park and port at Lahad Datu as the logistic hub for Brunei, Indonesia, Malaysia and the Philippines-East Asian Growth Area (BIMP-EAGA).
“Plans are also in place to construct a maritime academy to support the maritime-dependent economies of EAGA, and a marine transportation hub to enhance inter-EAGA connectivity,” he said at the welcoming dinner and official opening of the Sabah International Expo at the Sabah International Convention Centre here last night.
Finance Minister Datuk Seri Masidi Manjun delivered the chief minister’s speech.
Hajiji reiterated that Sabah is in a strategic location to tap into the region.
He noted that there is great potential in transboundary cooperation in areas of transportation, energy and power interconnection, trade and investments, communication and technology, agro-industry and fisheries, tourism, environment and sociocultural and education.
“As BIMP-EAGA prepares to celebrate its 30th anniversary next year, we ought to take stock of its potential. Data on BIMP EAGA offers many opportunities.
“Except for Brunei, other EAGA members are far away from their capitals of Jakarta and Manila. Hence, Sabah is ideal as a gateway for trade and investment,” he said.
“The influx of people and enterprises into Borneo will catalyse economic growth.
“The state government believes domestic and international investors can tap into this sub- region with a market of over 70 million consumers and growing,” he said.
On another note, Hajiji said Sabah is confident of getting more high-impact investments and surging beyond the RM9 billion investments already approved in the first half of this year.
“Last year, Sabah's trade hit a record high of RM118.1 billion compared to RM87.2 billion in 2021.
“We would certainly like to see more investors coming to Sabah to establish more businesses beneficial to all,” he said.
Hajiji assured that guided by the development roadmap, Hala Tuju Sabah Maju Jaya, Sabah’s commitment to growth is unwavering.
He added that the state will continue to push its development agenda based on the three growth pillars of agriculture, industry and tourism.
Hajiji said such efforts will place emphasis on investing in the people, enhancing connectivity and green sustainability. – The Vibes, September 22, 2023
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