Sabah kicks off Blue Economy initiative with launch of Sibec 2024 portal

KOTA KINABALU: Countdown to the Sabah International Blue Economy Conference (Sibec) 2024 begins with the launch of its official portal.

Chief Minister Datuk Seri Hajiji Noor officiated the ceremony, which also saw the exchange of letters of intent between the state government and supporting organisations at Menara Kinabalu here on Wednesday (March 6).

He presented letters of intent to the Sabah Ports Authority, Invest Sabah Sdn Bhd, Sawit Kinabalu Sdn Bhd, Qhazanah Sabah Berhad, Sabah Electricity Sdn Bhd, PETRONAS, The Asia Foundation—Malaysia, Sabah Credit Corporation Bhd, and the Maritime Institute of Malaysia, among others, as strategic partners for the three-day conference, which will be held from Sept 2.

Sibec 2024 was a follow-up to the Synedrio Sabah Maju Jaya conference: Exploring New Treasures Through the Blue Economy Concept in Sabah (SMJ EKOB 2023) themed “Beyond Limits, Unleashing Economy” held last Dec 14 here.

Hajiji said the blue economy comprised four main components, including harvesting of living resources (seafood and marine biotechnology), extraction of non-living resources, and generation of new resources (minerals, energy, and freshwater).

The other two components consisted of commerce and trade in and around the oceans (transport and trade, tourism and recreation) and response to ocean health challenges (ocean monitoring and surveillance, carbon sequestration, coastal protection and waste disposal).

There were 14 industries earmarked under the four main components, among them aquaculture, fisheries, pharmaceuticals, chemicals, oil and gas, renewables, shipping, blue carbon, and habitat protection and restoration.

The Sibec 2024 portal can be found at https://blueeconomy.sabah.gov.my/sibec2024