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Sedia told to diversify Sabah’s econ resources
Published on: Friday, March 29, 2024
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Sedia told to diversify Sabah’s econ resources
Hajiji accompanied by Hashim, chats with Sedia officers upon arrival at the Rumpun Bajau Samah Cultural Centre.
Tuaran: Chief Minister Datuk Seri Hajiji Noor has directed the Sabah Economic Development and Investment Authority (Sedia) to collaborate with strategic government agencies in a concerted effort to generate new economic resources for the State. 

“We must be able to make a paradigm shift on the State’s socio-economic development process,” he said, citing strategic government agencies such as the Ministry of Science, Technology and Innovation as well as private sectors. 

Hajiji, who also serves as the Sedia Chairman, said that it is time for Sabah to diversify its economic resources beyond oil palm, oil and gas and rubber. 

“We need to take full advantage of the research, development and commercialisation activities,” he said when chairing Sedia’s board meeting at the Rumpun Bajau Samah Cultural Centre in Lok Batik, here, Thursday. 

“According to the Department of Statistic’s data, Sabah’s main exports in 2022 were crude palm oil worth RM21.1 billion, liquefied natural gas worth RM5.2 billion, crude petroleum worth RM30 billion, palm kernel oil worth RM3.1 billion and others worth RM3.5 billion, which include a variety of raw or processed goods. 

“This shows that we need to establish a larger market for our non-commodity items. We must also increase production of non-commodity goods with high potential for exports,” he said.

Hajiji also urged Sabah’s studies and research centres to contribute to knowledge growth, drive innovation, and produce high-quality products with trade value that are helpful and profitable to the state.

“There are more than 21 studies and research centres in the state. We can leverage on their research to develop Sabah’s downstream activities,” he said.

Hajiji hoped the findings from previous, ongoing and future studies by Sedia will be fully utilised by the relevant government agencies.

Among the studies are 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.

“I want all findings and results from these studies to be shared and used widely not only as a basis for recommending development projects but also as a reference for both domestic and foreign investors,” he said.

After the meeting, the Chief Minister broke fast with Sedia board members, local community leaders, Tuaran mosques and surau heads at the cultural centre.

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