KOTA KINABALU: Sabah's strategic proximity to major Asian economies makes the state an ideal investment destination, says Deputy Chief Minister II Datuk Seri Dr Joachim Gunsalam.
He said three key aspects make Sabah a compelling partner, especially for investors from China.
Among them is the state government's commitment to sustainable development, he noted.
"Sabah is not just seeking growth – we are pursuing sustainable development that preserves our natural heritage while embracing modern technologies," he said in his keynote address at the Malaysia (Sabah)-China Business Summit 2024 here on Friday (Nov 22).
Dr Joachim, who is also state Local Government and Housing Minister, said Sabah's economy is growing and remains resilient.
"Last year, our services sector expanded by 4.5%, primarily driven by tourism-oriented industries, contributing approximately 51% to our gross domestic product.
"The strength of our tourism sector is particularly evident in our latest figures. From January to July this year, we welcomed more than 700,000 international visitors, with Chinese tourists making up more than 200,000 arrivals.
"This represents an extraordinary increase from only around 26,000 Chinese arrivals during the same period last year.
"These numbers not only reflect the strong bonds between Sabah and China but also demonstrate the immense potential for growth in our tourism sector," he added.
Dr Joachim said the state was also committed to renewable energy initiatives that offer substantial investment opportunities.
He said through the Sabah Energy Roadmap and Master Plan 2040 (SE-RAMP 2040), Sabah is aiming to attain over 50% renewable energy generation 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," he added.
The state's emphasis on developing human capital was another plus point, he said.
"With over 90% 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.
On the business summit, Dr Joachim said he was keen on the forums addressing smart infrastructure, food security, tourism ties, and renewable energy.
"These sectors represent immediate opportunities for collaboration between Sabah and China," he said.
He invited participants to explore the opportunities presented, ranging from the state's industrial parks to its renewable energy projects, digital economy initiatives to tourism.
"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," he added.
