ECONOMY AND BUSINESS
Besides being the capital city, Kota Kinabalu is also the main industrial and commercial centre for Sabah. The economy is dominated by the primary sector of industry. Historically, the primary and secondary sector dominated the economy, but due to rapid urbanisation and economic development, these sectors of the economy are slowly diminishing.
More recently, a move towards tertiary-based industry and tourism has become more apparent. Many state-level, national-level and international commercial banks, as well as some insurance companies have their headquarters or branches here. Besides the British, the Chinese have contributed to the development of KK since their immigration in the late 19th century.
A number of industrial and manufacturing companies have plants here, especially in the industrial districts of Likas, Kolombong, and Inanam. The ongoing construction of the 8,320-acre (33.7 km2) Kota Kinabalu Industrial Park (KKIP) in Sepanggar is intended to boost the city’s industrial and commercial activity, making it a major growth centre in East Malaysia, as well for the BIMP-EAGA (Brunei-Indonesia-Malaysia-Philippines East ASEAN Growth Area) region.
