KUALA LUMPUR, JUNE 23 — The government is ready to assess suitable collaboration if the Sabah State Government wishes to lead the state’s economic transformation through the establishment of a Special Economic Zone (SEZ), according to the Economy Ministry.
The Ministry of Economy announced that the BIMP-EAGA Vision 2035 (BEV2035) document, which was agreed upon during the Brunei Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP–EAGA) Special Summit in the Philippines last May, included the entire Sabah in two economic corridors.
“This means that economic development in Sabah is linked to and also contributes to cross-border economic development in the BIMB-EAGA sub-regional area,” the ministry said in a response released on the Parliament website on Monday.
The two Economic Corridors are the West Economic Corridor – focusing on logistics and transportation, manufacturing and enterprise, tourism, digital services and finance, and the Central Economic Corridor – focusing on cross-border trade, halal industry, logistics and supply chain.
“To enhance development in the Economic Corridor, BEV2035 has set the direction for the establishment of a Working Group to facilitate cooperation between different economic zones across borders.
“In this regard, aggressive and precise policy coordination will ensure that Sabah not only remains a geographical participant in BIMP-EAGA, but emerges as a critical economic hub and growth centre in Southeast Asia,” according to the Ministry of Economy.
— BERNAMA