Kota Kinabalu: Sabah is opening its doors to investors interested in ocean-based businesses, with the State offering opportunities in sustainable marine industries.
“Sabah welcomes domestic and foreign investment in strategic marine sectors,” SMJ Secretariat Chief Operating Officer Datuk Ramlee Kariah told the 3rd International Business Events Forum.
“Sabah’s Blue Economy plan focuses on two main areas, namely, changing how the economy works through new ideas and protecting nature while using smart management,” he added.
The forum, themed “Global collaboration through business events” was jointly organised by the Malaysian Association of Convention and Exhibition Organisers and Suppliers and the Sabah International Convention Centre, with Daily Express as media partner.
Ramlee said Sabah offers high-value opportunities, including sustainable fish farming for seafood production, marine biotech to turn ocean resources into pharmaceuticals and high-value products and seabed mining for responsible extraction of unexplored mineral resources.
“Sabah is using marine biotechnology to make discoveries through projects like a microbial bank, exploring and preserving marine microorganisms with unique properties that unlock opportunities for research and commercialisation.
“This approach creates high-paying jobs needing special skills in areas like marine sciences, biotech, and digital technology.
“Sabah has strengthened its role as a hub of innovation and sustainable growth within Asean by placing itself as the Asean Blue Economy Gateway and serving as a regional innovation centre for sustainable ocean-based industries,” he said.
He said Sabah’s Blue Economy initiative started in October 2023 with talks to the Chief Minister and has since reached major milestones including the Sabah International Blue Economy Conference 2024 opened by the Prime Minister, joining World Expo 2025 in Osaka, and hosting the Asean Blue Economy Forum 2025 as Malaysia chairs Asean.
“Sabah’s ocean development stands on four connected foundations that give investors confidence, namely, location, laws, support systems and working together,” he said.
He said with 73,620 square kilometres of land and a huge 165,576.74 square kilometres of ocean territory, Sabah has the natural advantage as a gateway to Blue Economy markets in the region and worldwide.
“Strong laws, including the Sabah Blue Economy Council, Renewable Energy Enactment, Ocean Thermal Energy Conversion Enactment, Climate Change and Carbon Governance Enactment, and Sabah Mangrove Action Plan protect natural resources while letting sustainable businesses grow,” he said.
“Money support through deals like the Maybank agreement, venture capital access, SME financing and project help allow investors to grow from testing ideas to real businesses.
“Networks bringing together young entrepreneurs, global academic institutions including Saga University in Japan, local universities, polytechnics and strategic partners create an ecosystem supporting innovation and growth.
“Partnership is about people and networks coming together to build Sabah’s Blue Economy. Our young entrepreneurs are ready to lead, turning innovative ideas into real initiatives,” he said.
