KOTA KINABALU: Prime Minister Datuk Seri Anwar Ibrahim says he is committed to providing full support for Sabah's economic development, including the state's blue economy initiative.
"I, as Prime Minister, will extend all necessary support to ensure Sabah's success in this endeavour," he said during the launch of the Sabah International Blue Economy Conference (Sibec) 2024 on Saturday (Oct 19).
Anwar then spoke about Sabah Chief Minister Datuk Seri Hajiji Noor's ambition to establish a significant blue economy hub for the region.
In his address, Hajiji highlighted Sabah's vast investment prospects within the blue economy sector. He shared that the potential annual yield from Sabah's fishing and prawn industry could exceed 491,000 metric tons, valued at over RM3.25bil.
"Currently, we're tapping less than half of this potential.
Most of our fishing vessels operate within 30 nautical miles from the shore, with only seven venturing into deeper seas. This presents vast opportunities for industrial fishing ventures to establish processing facilities targeted at deep-sea catches," he said.
The Chief Minister also pointed out that the blue economy encompasses more than deep-sea fishing, with sectors like oceanic renewable energy, carbon sequestration, tourism, maritime transportation, and marine biotechnology ready for exploration.
Hajiji mentioned the potential of ocean energy harvesting, referencing recent legislation passed in April.
"The Ocean Thermal Energy Conversion (OTEC) Act allows the Energy Commission of Sabah to investigate ocean thermal energy as a sustainable resource.
OTEC technology utilises the sea's temperature gradient to produce electricity without the need for conventional fuel," he said.
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