20-07-2025
Sabah Blue Economy On Track To Yield RM3.25 Bln Annually From Marine Harvests
BUSINESS
KOTA KINABALU, July 20 (Bernama) -- 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.
"There is more to Blue Economy than just deep-sea harvesting," he said in a speech read by Sabah Finance Minister Datuk Seri Masidi Manjun at the International Business Review (IBR) ASEAN Awards here yesterday.
Also present was IBR Asia Group founder, director and chief executive officer Datuk Beatrice Nirmala.
The chief minister also said that one of the most exciting aspects of ocean energy is the Ocean Thermal Energy Conversion (OTEC), which harnesses energy from the oceans.
"OTEC power plants are currently being planned to span across 500km of coastline and, in time, to be able to generate 20,000MW of green energy, an unprecedented scale globally. This is not only a gamechanger for the country, it is a gamechanger for the region," he said.
Hajiji said the Blue Economy Industrial Park has been established in Kudat as part of three new industrial parks approved by the state government, along with Kota Belud and Beaufort, all strategically located to grow investment opportunities.
On the investment front, Hajiji said Sabah had recorded RM17.41 billion from 73 companies in overall approved foreign and domestic investments in the manufacturing sector since September 2020, with 52 companies already setting up businesses in the state 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, which will create 32,996 jobs, he added.
