KOTA KINABALU: Sabah’s proximity to major Asian economies makes Sabah an ideal investment destination, said Deputy Chief Minister II Datuk Seri Dr Joachim Gunsalam.
He said there are three key aspects that make Sabah a compelling partner for Chinese investors, which include the state government’s commitment to sustainable development.
“Sabah is not just seeking growth—we are pursuing sustainable development that preserves our natural heritage while embracing modern technologies,” he said when delivering a keynote address at the Malaysia (Sabah)-China Business Summit 2024 at the Sabah International Convention Centre (SICC) here on Friday.
Dr. Joachim, who is also the Local Government and Housing Minister, shared that Sabah’s economy has shown remarkable resilience and growth.
“In 2023, our services sector expanded by 4.5 percent, contributing approximately 51 percent to our Gross Domestic Product (GDP), primarily driven by tourism-orientated industries.
“The strength of our tourism sector is particularly evident in our latest figures. From January to July 2024, Sabah welcomed more than seven hundred thousand (700,000) international visitors, with Chinese tourists forming the largest segment at more than two hundred thousand (200,000) arrivals.
“This represents an extraordinary 905.9 percent increase from the only around 26,000 Chinese arrivals during the same period in 2023. These numbers not only reflect the strong bonds between Sabah and China but also demonstrate the immense potential for further growth in our tourism sector.”
Secondly, Dr. Joachim said the state government is committed to renewable energy initiatives that offer substantial investment opportunities while maintaining its commitment to environmental concern.
He said through the Sabah Energy Roadmap and Masterplan 2040 (SE-RAMP 2040), Sabah is aiming to attain over 50 percent renewable energy generation mix in terms of megawatt (MW) capacity by 2035.
“This also aligns with the aspiration of digital transformation through our e-government initiatives and digital infrastructure development, creating a business-friendly environment.”
Thirdly, he said the state government emphasises human capital development.
“With over 90 percent of our population now having access to basic healthcare and improved education systems, we are building a skilled workforce ready for the future economy.
“Our collaboration with Chinese partners in technology transfer and skills training will be crucial in this journey,” he said.
Looking at the summit program, Dr. Joachim said he was particularly excited about the forums addressing smart infrastructure, food security, tourism ties, and renewable energy.
“These sectors represent immediate opportunities for collaboration between Sabah and China.”
Dr. Joachim said the presence of Chinese businesses and investors here today reflects the strong foundation of trust and cooperation between Sabah and China.
“The tourism sector has seen remarkable growth in Chinese visitors, and we are ready to expand this success to other sectors.”
Dr. Joachim also invited the Chinese participants to explore the various opportunities presented during this summit, from the state’s industrial parks to its renewable energy projects and from its digital economy initiatives to the tourism sector.
“Together, we can build a partnership that not only benefits our economies but also serves as a model of international cooperation in the ASEAN region.”
Also present were, Minister of Industrial Development and Entrepreneurship Sabah (MIDE), Datuk Phoong Jin Zhe; Deputy Minister of Plantation and Commodities of Malaysia, Datuk Chan Foong Hin; MIDE Permenant Secretary, Datuk Thomas Logijin and Counselor from China Embassy in Malaysia, Li Sa.
