Blue Economy Boost for Sabah

Sabah has a 2,383-kilometre coastline with vast marine areas and it has tremendous potential for developing a sea-based economy. Chief Minister Datuk Seri Panglima Haji Hajiji Haji Noor has said that Sabah is committed to strengthen the Blue Economy agenda. Hajiji witnessed the signing of a Memorandum of Understanding between the State Government and the Global Banking on 10 November 2025 at Menara Kinabalu.

The Maybank Group is set to to formally provide financial facilities, advisory services, monitoring, and industry networking for commercial projects and research in the Blue industry. Hajiji said that Maybank Group’s strong background in blue financing will enhance economic competitiveness for the state through the application of advanced technologies, the development of research and development (R&D) hubs, intellectual property (IP) creation, and job opportunities.

The strategic collaboration with Maybank will transform Sabah into a progressive and sustainable Blue Economy hub, bringing direct benefits to local communities and coastal populations through increased economic activities and job opportunities, Hajiji said. “I call upon young entrepreneurs and industry players to join hands with the State Government in advancing this agenda. Let Blue Financing be the catalyst for Sabah’s Blue Economy transformatio,” the CM said. The State Government established the Sabah Blue Economy Council (MEBS) in June 2025 to coordinate policies and strategies for the Blue Economy.

Hajiji said that the GRS-led Government will position Sabah as a regional leader in marine and ocean-based economic development. The CM said the Memorandum of Agreement (MoA) between Kota Kinabalu City Hall (DBKK) and Alpha Ocean Resources Berhad (AORB) in July 2025 for a RM360 million tuna and deep-sea fish port in Kota Kinabalu is a key part of Sabah's Blue Economy agenda to enhance the state's fisheries industry including exports to premium markets. The port is expected to be completed within 18 months.

The establishment of the Blue Economy Industrial Park in Kudat will boost investments in marine technology, renewable energy, and high value seafood processing. The Blue Economy in Kudat will yield 491,000 metric tons of marine and sea food products annually, with a value of RM3.25 billion for Sabah’s economy. But there is much more to the Blue Economy than just deep-sea fishing. The Blue Economy has between 12 and 14 components to explore including renewable ocean energy, blue carbon, tourism, maritime transport, and marine biotechnology. The Ocean Thermal Energy Conversion (OTEC) is another massive project, with power plants spanning 500km of coastline assets which will generate 20,000MW of green energy. Kudat’s Blue Economy Industrial Park and two other new parks in Kota Belud and Beaufort will further attract investments.

Since September 2020, Sabah has secured RM17.41 billion in approved foreign and domestic investments from 73 companies in the manufacturing sector. Of these, 52 companies have already begun operations with a total investment of RM7.8 billion, creating over 3,600 jobs. From 2022 to 2024, Sabah received additional investment proposals worth RM42.3 billion, which are expected to create nearly 33,000 new jobs. In his speech on 10 November 2025 at the MoU event, Hajiji also noted the success of the Sabah International Blue Economy Conference (SIBEC) 2024, which has attracted 4,000 participants from local and international sectors.