PUTRAJAYA, Oct 25 — The federal government will provide cooperation and strong support for the Blue Economy initiative being implemented in Sabah to explore and utilise the wealth of marine resources in the state, said Communications Minister Fahmi Fadzil.

Fahmi, who is also the Unity Government spokesman, said Prime Minister Datuk Seri Anwar Ibrahim emphasised this when chairing the Cabinet meeting today.

"This is the Prime Minister's directive to the Cabinet to fully support the economic development of Sabah.

"The government must provide strong support for Sabah's efforts by utilising all available resources to help implement this Blue Economy concept.

"It involves marine resources, not only in terms of fisheries but also mineral resources that have potential as renewable energy sources," he said at a press conference after the Cabinet meeting here.

On Oct 19, Anwar, who is also the Finance Minister, officiated at the Sabah International Blue Economy Conference (SIBEC) 2024 at the Sabah International Convention Centre in Kota Kinabalu.

SIBEC 2024 was held to promote the development of a marine resource-based economy in Sabah, focusing on the fisheries sector, renewable energy and marine tourism.

The conference also served as a platform to introduce new technologies and attract investments through exhibitions and interactive sessions.

Sabah Chief Minister Datuk Seri Hajiji Noor, in his speech at the conference, said the investment opportunities in Sabah's Blue Economy are immense, with an estimated annual potential yield of fish and prawns alone exceeding 491,000 tonnes, valued at RM3.25 billion. — Bernama