Sabah targets RM100 billion GDP by 2030

Traders Union
All News
Economic Data
Sabah targets RM100b GDP by 2030

Highlights

Sabah aims to achieve RM100 billion in GDP by 2030 through industrial development, investment and sustainable energy infrastructure.
Sabah's gas supply is expected to rise from 700 million standard cubic feet per day to 1,350 million standard cubic feet per day by 2030.
Sabah is strengthening its energy sector through the Commercial Cooperation Agreement with PETRONAS and the implementation of the Progressive Energy Transformation Agenda, PETA 2030.

This article was translated from the original. Read the original version by our correspondent here.

Growth plan backed by energy development

As reported by The Edge Malaysia, Chief Minister Datuk Seri Hajiji Noor said the state government is focusing on implementing its industrial development plan, attracting investment and providing essential infrastructure, including a stable, reliable and affordable energy supply.

He said investors looking to build factories or conduct large-scale operations in Sabah need certainty about whether the state can provide sufficient electricity and gas, how much they will cost, and when they can be supplied. His speech was read by Assistant Minister to the Chief Minister Datuk Ceasar Mandela Malakun at the opening of Sabah Energy Corporation's Annual Planning Conference in Kota Kinabalu on Thursday.

Hajiji said Sabah's gas supply could increase from around 700 million standard cubic feet per day to 1,350 million standard cubic feet per day by 2030, based on the Long-Term Gas Supply and Delivery Plan presented to the state government last September. He added that proposed development of gas resources off Sabah's east coast would create new opportunities for power generation and industrial growth in the region.

Industry cooperation and project delivery

Hajiji also highlighted progress in strengthening Sabah's participation in the energy sector through the Commercial Cooperation Agreement with PETRONAS, signed in December 2021.

He praised Sabah Energy Corporation's financial performance and its efforts to expand operations through the Progressive Energy Transformation Agenda, PETA 2030. At the same time, he urged government-linked companies and state agencies to strengthen cooperation to accelerate project delivery and avoid missing investment opportunities.

In our earlier coverage of the proposed “user-pays” electricity pricing system for large users, we explained the government's plan to introduce special tariffs for data centres and energy-intensive industries so that supply costs are shared more fairly without burdening household bills. The article also discussed factors driving generation costs and incentives to shift to time-of-use tariffs to manage electricity demand, while details of the rates and implementation timeline have yet to be announced.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.