Sabah lays foundation for long-term economic growth
Published on: Sat, Jul 19, 2025 Text Size: Masidi receives the award from Azman, while others look on. – Pic by CMD Kota Kinabalu: The State Government has laid a solid foundation for long-term economic development, said Chief Minister Datuk Seri Hajiji Noor at the IBR Asean Awards here on Saturday. He highlighted that Sabah's rich resources – ranging from minerals and petroleum to seafood and renewable energy – offer wide-ranging opportunities for sustainable progress.
Advertisement His speech was delivered by State Finance Minister Datuk Seri Masidi Manjun. Hajiji said Sabah's collaboration with Petronas has yielded significant equity gains in oil and gas projects, including the recent 25 per cent stake in the USD3.1 billion PFLNG 3 project in Sipitang. Since September 2020, Sabah has secured RM17.41 billion in approved manufacturing investments, with 52 companies already operating and creating over 3,600 jobs. New investment proposals between 2022 and 2024 total RM42.3 billion, projected to generate nearly 33,000 additional jobs for Sabahans. To meet investor demand, new industrial parks have been approved in Kota Belud, Beaufort, and Kudat, along with improved connectivity such as the new Kota Kinabalu–Taipei–Fukuoka route. The State is also positioning itself as a regional leader in the Blue Economy and green energy, including Otec power plants and hydropower projects to support future energy and water needs. Meanwhile, Sabah was named Malaysia's Most Outstanding State for 2024 at the awards show. Masidi accepted the award on behalf of the Chief Minister from the award's chief judge, Datuk Seri Azman Ujang. The recognition was based on assessments by a panel of professionals from various fields, supported by comprehensive data reviewed by expert advisers. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available.
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