Sabah focuses on business foundations and oil and gas value chain

Economic development in Sabah is focusing on strengthening business foundations and maximizing the value of the oil and gas sector. During the Kembara Borneo 2026 forum, Dexter Lau, President of the Malaysia–China Chamber of Commerce (MCCC) Sabah, emphasized that entrepreneurs seeking national and regional expansion must prioritize clear planning, robust management, and skilled teams rather than relying solely on capital.

Simultaneously, the Sabah government is aiming to expand the economic benefits of its oil and gas industry beyond mere exploration and production. Chief Minister Hajiji Noor highlighted the importance of capturing the entire value chain, including infrastructure, support services, downstream activities, and vendor development. This objective was underscored during the signing of land lease agreements for the Sabah Oil and Gas Terminal (SOGT) and the Sabah-Sarawak Gas Pipeline (SSGP) projects between the Sabah Economic Development Corporation (SEDCO) and PETRONAS.

Both initiatives aim to foster long-term growth by encouraging local vendors and companies to enhance their technical capabilities, technology, and human capital to participate more effectively in the state's expanding industrial landscape.