SEDIA and State Agencies to Create New Economic Resources

Sabah’s main exports, based on 2022’s records, were crude petroleum at RM30 billion; crude palm oil RM21.1 billion, liquified natural gas (LNG) RM5.2 billion, palm kernel oil RM 3.1 billion and others (raw or processed goods) RM3.5 billion.

The way forward, according to Chief Minister Datuk Seri Panglima Haji Hajiji Haji Noor is to identify a bigger market for the State’s non-commodity products; and to increase production of non-commodity goods that have a high potential for exports. Hajiji said that Sabah must make a paradigm shift on the state’s socio-economic development process including the dependency on existing economic resources such as oil palm, oil and gas and rubber.

The Chief Minister, who is also SEDIA chairman, said SEDIA will collaborate with government agencies including the Ministry of Science, Technology and Innovation and private sectors to create new economic resources. All economic players and decision makers must use the research conducted by the State’s research centres to leverage on the findings including the potential of downstream activities. Hajiji commented on these issues during a SEDIA board meeting on 28 March 2024 at the Rumpun Bajau Samah Cultural Centre in Lok Batik, Tuaran.

SEDIA has also conducted studies and research on strategic issues including the following:

• The Redevelopment of Tourism in Mesilau;

• Redevelopment of Poring Hot Spring, Ranau;

• Economic Development at the Sabah Border;

• Business and Economic Master Plan for POIC Sandakan;

• SDC-Master Plan and Business Plan Study for Free Economic Zone, Logistic Hub and Cold Storage Depot at POIC Lahad Datu; and

• Study on the Food Valley Master Plan in Sabah’s interior.

Hajiji believes that these studies must be used for recommending development projects and references by domestic and foreign investors.