Sabah shouldn’t depend too much on commodities, says Hajiji

Sabah shouldn’t depend too much on commodities, says Hajiji

The chief minister wants the state to diversify and develop new economic resources.

Chief minister Hajiji Noor said Sabah needs to develop downstream industries to reduce its reliance on the trading of commodities, especially palm oil, and oil and gas. (Bernama pic)
KOTA KINABALU:
Chief minister Hajiji Noor does not want Sabah to depend only on the trading of commodities, especially palm oil, and oil and gas, in developing the state’s economy.

Hajiji wants the state to diversify and develop new economic resources instead.

To realise this, he said, the findings by 21 studies and research centres in the state need to be fully utilised to develop downstream industries.

“Sabah needs to utilise the results of all this research to launch a paradigm shift to develop new economic resources,” he said in a statement after chairing a meeting of the Sabah Economic Development and Investment Authority (Sedia) in Tuaran today.

He noted that among the studies were the redevelopment of tourism in Mesilau; the redevelopment of the Poring Hot Water Centre in Ranau; the economic development study at the Sabah border; the master plan and business plan study for free economic zones; and the Sabah Inland Food Valley master plan study.

Hajiji said that based on data from the statistics department, Sabah’s main exports in 2022 were palm oil, amounting to RM21.1 billion, liquid natural gas (RM5.2 billion), crude petroleum (RM30 billion) and palm kernel oil (RM3.1 billion).

Hajiji, who is also the Sedia chairman, said the state’s other export goods, both raw and processed, only amounted to RM3.5 billion.

“This proves that we need to identify a wider market for non-commodity export goods. We also need to increase the production of non-commodity goods that have high export potential,” he said.

Stay current - Follow FMT on WhatsApp, Google news and Telegram

Subscribe to our newsletter and get news delivered to your mailbox.