KOTA KINABALU: The Sabah government will explore the Blue Economy with the goal of economic development, creating job opportunities and improving the people's standard of living.
State Finance Minister Datuk Seri Masidi Manjun said the concept of the Blue Economy involves sustainable exploration of marine and coastal resources.
"For instance, mangrove conservation, fisheries and aquaculture, renewable energy, tourism and recreation, climate change and others.
"Therefore, the government will undertake this new exploration in collaboration with foreign investors who have 14 2024 Budget Sabah Maju Jaya expertise in these fields.
"To realise this aspiration, the state government will host an International Blue Economy Conference in February 2024," he said during the tabling of the state 2024 Budget at the state assembly sitting here.
Masidi also said the fisheries sector is the second biggest contributor to GDP under the agriculture sector for the year 2022.
The balance of trade in that sector showed a positive figure of approximately RM600 million to RM900 million annually.
"Therefore, a total of RM41.61 million is allocated for the fisheries sub-sector to continue development programmes and support that guarantees the production of fisheries products for domestic and international markets.
"Of that amount, a total of RM10.43 million has been allocated under development to finance among others conservation initiatives through "tagal" activities and installation of artificial reefs."
Tagal is a method of biosphere management of rivers adapted from the traditional practices of the Sabahan traditional local community.
Apart from that, he said the efforts to combat illegal, unreported and unregulated fishing, especially the issue of fish bombing will be enhanced.
As a result, this year, a total of 49 cases, including four court cases, have been successfully recorded by the Sabah Department of Fisheries.