The Malaysian Investment, Trade and Industry Ministry (MITI) is set to develop a strategic plan to boost green investment and establish Malaysia as a leading regional green investment hub, catalyzing sustainable socio-economic development. This initiative follows the recent approval of the Green Investment Strategy (GIS) by the National Investment Council, aiming to draw substantial green investments to Malaysia.
The GIS targets seven low-carbon thrusts under the National Energy Transition Roadmap (NETR) and the New Industrial Master Plan 2030 (NIMP 2030): energy efficiency, renewable energy, hydrogen, bioenergy, green mobility (land, marine, and aviation), carbon capture, utilization, and storage (CCUS), and the circular economy. The implementation of the GIS is expected to foster a more effective, orderly, and systematic transition in Malaysia, aiming to attract up to MYR 300 billion (USD 63 billion) in green investments by 2030. The strategy aligns with the nation’s objectives to achieve net-zero carbon emissions by 2050 and systematically attract green investments.
The objective is to boost the value of green investments by approximately eight times, utilizing foreign direct investment in green technology and improving the green investment ecosystem. As the Secretariat, MITI will concentrate on drawing green investments to achieve this goal. An initiative in this effort is the rebranding of the Federal Government project announced in the 2024 Budget—the Kerian Integrated Green Industrial Park—which is expected to drive the shift to renewable energy among the industries operating within the park.
(Sources: New Straits Times; The Sun)
