2027 Budget to focus on Sabah's blue economy
TAWAU: Sabah’s marine and aquaculture sectors will receive special focus in the preparation of 2027 Budget as the government identifies the Blue Economy as a new strategic area to drive economic growth.
TAWAU: In the upcoming 2027 Budget, economic focus will be placed on Sabah's blue economy, according to Finance Minister II Datuk Seri Amir Hamzah Azizan. The government is collaborating with Sabah's state government to effectively develop the sector for the benefit of its people. Sabah possesses strong potential to become a leader in marine and aquaculture industries, prompting the government to engage with industry stakeholders during the 2027 Budget meeting.
An outcome-based allocation strategy will ensure that infrastructure investments and financing accelerate the growth of the marine industry. The unique natural advantages of Sabah's marine and aquaculture sectors can be leveraged to generate higher-value economic activities through increased productivity, downstream processing, improved supply chains, and better market access.
This includes downstream processing activities which can add value to local marine resources. A notable example is Sabah's successfully booming seaweed processing industry, which has gained a strong foothold in export markets such as China and the United Kingdom. By strengthening the supply chain and downstream processing, the government aims to create quality job opportunities and improve the income of local communities.
The government is also aligning proposals under the Sabah Maju Jaya plan with the preparations for the 2027 Budget and the 13th Malaysia Plan.
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