KOTA KINABALU: The State Government welcomes assistance from organisations such as the ASEAN-Business Advisory Council Malaysia to promote Sabah\u2019s economic development in tandem with the goals of the Hala Tuju Sabah Maju Jaya (SMJ).
\nChief Minister Datuk Seri Panglima Haji Hajiji Haji Noor said Sabah is strategically located in the heart of the Brunei Darussalam\u2013Indonesia\u2013Malaysia\u2013Philippines East ASEAN Growth Area or BIMP-EAGA.
\n\u201cThrough this subregional cooperation, Sabah has been on the forefront of promoting closer economic collaboration and has pledged to do our part to ensure the success of the revival plans, among them the BIMP-EAGA Economic Corridors development,\u201d he said.
\nHence, the Chief Minister said the State Government looked at organisations such as the ASEAN-Business Advisory Council (ASEAN-BAC) Malaysia to assist where relevant and related.
\n\u201cSabah is open for business. We welcome serious investors to come to Sabah to explore what we have to offer and to establish win-win partnerships,\u201d he said in his special remarks during the ASEAN-BAC Malaysia consultation meeting with the State Government and agencies conducted via Zoom today.
\nHe was represented by Deputy State Secretary Dr Ahemad Sade. Tan Sri Dato\u2019 Dr. Munir Majid, Chairman of ASEAN-BAC Malaysia also participated together with Invest Sabah Chief Executive Officer, Datuk Madiyem Layapan, Chief Investment Officer, Sabah Economic Development and Investment Authority (SEDIA), Mr. Kevin Ukang and key members of ASEAN-BAC Malaysia.
\nASEAN-BAC Malaysia, represented by three council members appointed by the Minister of International Trade and Industry of Malaysia (MITI), is an active participant in the regional ASEAN-BAC with regular participation at all Council Meetings and Consultations with ASEAN ministers and Leaders.
\nHajiji said there was much that can be done, discussed, and collaborated on in anticipation of the planned relocation of Indonesia\u2019s capital from Jakarta to East Kalimantan.
\n\u201cWith more people and businesses anticipated to move into Borneo, this will strengthen Sabah\u2019s position and spur economic activities. Investors, domestic and foreign, will have access to this subregion with a market of over 70 million people and growing,\u201d he said.
\nAccording to him, there were many opportunities to leverage multiple sectors across the state and Sabah had success stories.
\nAmong them was the success in securing a significant RM4.4 billion worth of foreign investments as of June last year, the third biggest in the country after the states of Kedah and Selangor.
\n\u201cWe are confident Sabah is and will be an attractive destination for investment. I have stressed from the onset that we want to be investor-friendly and we will ease all hurdles to facilitate investments,\u201d he said.
\nThe Chief Minister said things were looking up and he was confident the state\u2019s economy is on the right path.
\n\u201cUnder the implementation of the SMJ Development Plan, Sabah recorded RM5.449 billion in revenue in 2021, the highest on record. With focus and correct management, we are confident of greater revenue this year.
\n\u201cThe high level of federal government support is evident in the 12th Malaysia Plan, committing to enhance Sabah’s development as one of the nine main focuses to spur recovery.
\n\u201cWhat is most significant, I must add is that with federal government support and in a short span we saw the successful signing of the Commercial Collaboration Agreement (CCA) between the State Government and Petronas to give Sabah greater say, greater participation and greater revenue sharing in oil and gas related matters.
\n\u201cThe Sabah Gas Masterplan launched in January of this year to pave the way for collaboration between the State Government and Petronas will guide investments in Sabah’s natural gas resources,\u201d he said.
\nHajiji said the three sectoral economic thrusts of the SMJ Development Plan will provide clarity on Sabah\u2019s key focus areas, especially for businesses and investors.
\nThe three main thrusts are first to give focus on three main economic sectors, namely Agriculture, Industry and Tourism; secondly, to emphasise on human capital development and well-being of the people and thirdly, emphasise on connectivity, specifically green infrastructure and sustainability networks.<\/p>\n","protected":false},"excerpt":{"rendered":"
KOTA KINABALU: The State Government welcomes assistance from organisations such as the ASEAN-Business Advisory Council Malaysia to promote Sabah\u2019s economic development in tandem with the goals of the Hala Tuju Sabah Maju Jaya (SMJ). Chief Minister Datuk Seri Panglima Haji Hajiji Haji Noor said Sabah is strategically located in the heart of the Brunei Darussalam\u2013Indonesia\u2013Malaysia\u2013Philippines […]<\/p>\n","protected":false},"author":9,"featured_media":14199,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[28],"tags":[],"class_list":{"0":"post-14198","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-local-news"},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/jesseltontimes.com\/wpmarch2025\/wp-json\/wp\/v2\/posts\/14198","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jesseltontimes.com\/wpmarch2025\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jesseltontimes.com\/wpmarch2025\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jesseltontimes.com\/wpmarch2025\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/jesseltontimes.com\/wpmarch2025\/wp-json\/wp\/v2\/comments?post=14198"}],"version-history":[{"count":1,"href":"https:\/\/jesseltontimes.com\/wpmarch2025\/wp-json\/wp\/v2\/posts\/14198\/revisions"}],"predecessor-version":[{"id":14200,"href":"https:\/\/jesseltontimes.com\/wpmarch2025\/wp-json\/wp\/v2\/posts\/14198\/revisions\/14200"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/jesseltontimes.com\/wpmarch2025\/wp-json\/wp\/v2\/media\/14199"}],"wp:attachment":[{"href":"https:\/\/jesseltontimes.com\/wpmarch2025\/wp-json\/wp\/v2\/media?parent=14198"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jesseltontimes.com\/wpmarch2025\/wp-json\/wp\/v2\/categories?post=14198"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jesseltontimes.com\/wpmarch2025\/wp-json\/wp\/v2\/tags?post=14198"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}