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BUSINESS • 21/11/2024 03:10 PM

Sapangar Bay Port Trade Hub To Positively Impact Sabah's Economy

KOTA KINABALU, Nov 21 (Bernama) -- The Sabah State Government's aspiration to position Sapangar Bay Container Port (SBCP) as a regional trade hub is expected to deliver significant long-term economic benefits for the state, the State Assembly was informed today.

Assistant Minister of Works Datuk Robert Tawik said that following the takeover of the port operations from Sabah Ports Sdn Bhd (SPSB), global port terminal operator DP World Plc has formulated various strategies to realise this goal.

"Key initiatives include expanding the container port's capacity, with DP World planning to enhance the Sapangar Bay Port to accommodate higher cargo volumes and improve logistics efficiency. This will position Sabah as a competitive shipping hub in the region," he said.

Robert added that DP World will also collaborate with international operators to adopt best practices and implement advanced technologies, expediting cargo transfer and reducing operational times.

He was responding to a query from Datuk Jaffari Waliam (Nominated Assemblyman), regarding DP World's strategic direction after assuming control of SBCP operations from SPSB.

On Sept 9, SPSB officially handed over the management and operation of SBCP to DP World, a global leader in smart supply chain logistics.

Further commenting, Robert noted that DP World plans to strengthen strategic trade routes by expanding its maritime network, a move expected to reduce logistics and shipping costs, thereby boosting Sabah's competitiveness as a trade and investment hub.

Additionally, he shared that developing a free zone at the port is expected to attract substantial foreign investment, stimulate downstream activities, and increase cargo throughput.

"The resulting economic growth will contribute to state revenue through corporate taxes collected by the Sabah government," he said.

-- BERNAMA

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