TAWAU: The blue economy plan developed by the Sabah Government under the Sabah Maju Jaya (SMJ) development framework could be translated into several initiatives for consideration under the 2027 National Budget.
Second Finance Minister Datuk Seri Amir Hamzah Azizan said the proposals would be further refined with various ministries and relevant stakeholders to identify suitable programmes and initiatives to support the development of Sabah’s blue economy.
He said some proposals might require long-term planning and could be carried forward into future years, given the importance of the blue economy as one of the State’s development pillars.
“Sabah has huge potential in the blue economy, given its wealth of natural resources, including tourism, ecotourism, fisheries and other economic activities based on marine and river resources.
“The blue economy does not only cover tourism and ecotourism, but also fisheries and other economic activities related to water resources,” he said.
Amir Hamzah said this when met after the 2027 Budget Engagement Session with focus groups at a leading hotel here.
Sabah was the first stop of the 2027 Budget Tour to gather input for the preparation of next year’s Budget.
He said the Sabah Government had also submitted several proposals, or “wish lists”, for consideration by the Federal Government, which would be studied and further refined.
Among the areas that could be given attention were the development of the fisheries industry, provision of fisheries port facilities, as well as increasing processing activities and the production of value-added products in Sabah, he said.
Amir Hamzah said such measures were important to ensure more economic value remained in Sabah, while increasing returns to the State and creating more employment opportunities.
Meanwhile, he said the seaweed industry also showed potential as a new segment of Sabah’s economy, with locally cultivated seaweed being processed for export to international markets, including China and the United Kingdom.
“The blue economy approach can serve as a framework to identify new economic opportunities that can strengthen Sabah’s growth and contribute to the country’s development direction under the 13th Malaysia Plan (RMK13),” he said.
