KOTA KINABALU (July 3): China is Sabah’s largest trading partner, with a bilateral trade valued at RM10.7 billion last year, said Sabah Chief Minister Datuk Seri Hajiji Noor.

Hajiji said the state’s economic ties with China were driven by strong trade, investment, and collaborative projects across sectors.

For the manufacturing sector, Sabah had received RM3.07 billion in investments from China to-date, creating 3,086 jobs, he said.

“These investments involved solar glass manufacturing, silica and processing, food manufacturing, rubber products, wood-based products, and plastic products,” he said in his speech at the Malaysia-China Summit 2024: Networking Engagement Series in Sabah here on Wednesday.

The chief minister’s speech was read by Assistant Minister to Chief Minister Datuk Nizam Abu Bakar Titingan.

Hajiji called on the public and private sectors in Sabah to leverage the strong economic ties with China and Asean to foster economic synergy, in shaping future regional collaboration and economic development.

The chief minister said Sabah could cooperate with China in green energy, manufacturing, high-technology agriculture and smart city construction, among other areas, to promote mutual benefits and win-win partnerships.

There are also ample opportunities for investors from China and other Asean countries to invest in green technology, high-tech agriculture and mixed developments, he said.

“While oil and gas remain important revenue streams for Sabah, we welcome investors also to explore solar and storage technologies, hydro, geothermal, and carbon market opportunities.

“Sabah is also pitching to Chinese investors to explore the state’s Blue Economy concept, which involves the sustainable use of ocean resources for economic growth, improved livelihoods and jobs,” he said.

Hajiji said China was also the largest source of foreign tourists to Sabah, accounting for 135,855 of the 396,564 international arrivals for the first four months of this year. 

Sabah’s total trade last year was valued at RM41.46 billion, with main exports comprising palm oil (RM15.29 billion), liquefied natural gas (LNG) (RM5.05 billion), crude petroleum (RM2.55 billion), palm kernel oil (RM1.29 billion), and palm oil-based oleochemicals (RM1.12 billion), he added.

https://www.theedgemarkets.com/node/717775