KOTA KINABALU: Sabah remains upbeat for its economy to grow positively despite growing external pressures including the impact of a global economic slowdown caused by the ongoing conflicts in Middle East and Eastern Europe.
Chief Minister Datuk Seri Hajiji Noor said that he was confident state’s economic growth will remain in its trajectory under the Sabah Maju Jaya (SMJ) 2.0 Development Plan, which serves as the main pillar of the state’s development agenda for the next five years should remain.
“With the conclusion of the 17th state election at the end of November last year, the state government is determined to intensify the development agenda for the next five years, guided by the SMJ 2.0 roadmap, launched on Jan 30.
“This direction is also aligned with the implementation of the 13th Malaysia Plan (MP13), from 2026 to 2030. Through SMJ 2.0, the state economy will continue to grow positively despite external pressures such as the global economic slowdown arising from ongoing conflicts in the Middle East and Eastern Europe,” he said at the at the Investiture Ceremony in conjunction with the 75th official birthday celebration of the Head of State at Istana Seri Kinabalu here on Monday (March 30).
Hajiji said that due to the ongoing conflicts, the world's oil supplies were also affected.
“This situation has triggered a global energy crisis, which will also be felt in this country. Therefore, I urge the people to practise prudence, particularly in spending and in the use of vehicles for daily activities,” he said.
Hajiji also reminded the public to be more prudent in water usage following rising temperatures that indicate the onset of a El Niño dry spell phenomenon, which could potentially lead to prolonged drought.
“In this regard, avoid open burning and reduce outdoor activities, especially when temperatures reach unusually high levels,” he said.
Touching on the state’s economic performance, Hajiji said the state government has begun exploring the potential of the Blue Economy as a key strategic driver under SMJ 2.0, leveraging Sabah’s maritime and biodiversity advantages.
“It encompasses the development of marine biotechnology, smart fisheries, modern marine-culture, logistics and sustainable tourism, as well as the utilisation of rivers as economic lifelines for rural areas,” he said.
This initiative also includes the protection of coastal areas, mangroves and coral reefs, as well as the development of blue carbon towards higher value-added economic growth.
“The exploration of the Blue Economy, particularly in the fisheries and aquaculture sectors, is expected to generate marine-based revenue of up to RM3.25bil annually,” he said.
He reiterated close cooperation between the state and federal governments will continue to be strengthened to ensure development programmes are implemented in an orderly, efficient and effective manner.
“Development projects, especially priority ones, including infrastructure, healthcare, education, security and welfare, must be closely monitored to ensure smooth implementation and completion as scheduled,” he added.
