Sabah’s strategic location and natural resources hold great potential for foreign and domestic investors

ASEAN Business Advisory Council (ASEAN-BAC) Malaysia held a consultation meeting with the Sabah state government and agencies on 28 July 2022, chaired by ASEAN-BAC Malaysia Chairman Tan Sri Dato’ Dr. Munir Majid. The session discussed the state’s development and recovery efforts.

Tourism is the largest contributor to the Sabah economy. Tan Sri Munir said, “There is huge potential for growth. Sabah should look to expand the market for tourist arrivals to also include ASEAN countries whose income levels are rising. ASEAN-BAC Malaysia welcomes ideas from the Sabah government on how it can help in this regard, bearing in mind that issues such as connectivity, infrastructure and human resources need to be addressed.”

“Foreign and domestic investors find access to gas and energy to be a big incentive for manufacturing and so having a gas pipeline passing through industrial estates could form the basis of a vibrant manufacturing sector in Sabah,” said Tan Sri Yong Poh Kon, ASEANBAC Malaysia Council Member.

ASEAN-BAC Council Member Mr Raja Singham concurred: “Another area Sabah could look at is food security and agriculture what with the war in Ukraine and food shortages all over the world, especially since Sabah has large land banks and it could adopt modern methods of food production.”