Sabah blue economy set to generate RM3.25 billion annually from marine harvests
'There is more to Blue Economy than just deep-sea harvesting,' Hajiji said in a speech read by Sabah Finance Minister Datuk Seri Masidi Manjun at the International Business Review (IBR) ASEAN Awards. He emphasized the potential of Ocean Thermal Energy Conversion (OTEC), a renewable energy source that could generate 20,000MW of green energy along 500km of coastline.
The state has also established the Blue Economy Industrial Park in Kudat, alongside new industrial parks in Kota Belud and Beaufort, to attract investments. Since September 2020, Sabah has secured RM17.41 billion in approved investments from 73 companies in the manufacturing sector, creating 3,636 jobs. Additional proposals worth RM42.3 billion are expected to generate 32,996 more jobs.
A key development is the Commercial Collaborative Agreement with Petronas, granting Sabah greater participation in oil and gas, including stakes in the Samarang and Samur fields and a 25 per cent share in a US$3.1 billion floating LNG project in Sipitang.
To support infrastructure needs, the Sabah Energy Roadmap and Master Plan 2040 aims to produce 700MW of energy within two years, while RM679.85 million has been allocated to address water shortages.
At the IBR ASEAN Awards, Sabah was named the Most Outstanding State in Malaysia for 2024, with Negeri Sembilan taking the title of Most Progressive State. Other winners included Institut Jantung Negara and Clean Kinetics Pte Ltd for excellence in healthcare and renewable energy, respectively. - Bernama
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