The International Greentech & Eco Products Exhibition & Conference (IGEM 2023) held from 4 to 6 October 2023, at the Kuala Lumpur Convention Centre, emerged as a pivotal platform for green solution providers and energy businesses to showcase the latest global innovations and connect with policymakers, governmental organisations, investors, as well as industry experts.

The annual event stood as a testament to the commitment of Malaysia to advancing into a greener future. Co-organised by the Ministry of Natural Resources, Environment and Climate Change (NRECC) and the Malaysian Green Technology and Climate Change Corporation (MGTC), the event was themed “Race Towards Net Zero: Leadership for Climate Action.”

The Malaysian Investment Development Authority (MIDA) continued to be the strategic partner for IGEM 2023, as in previous editions.  This year, MIDA brought along the Green Technology Division and the Transport Technology Division, providing insights into government policies, incentives, and support services available for investors in the green technology industry and the Electric Vehicle (EV) mobility sector. Their booths were a bustling hub of activity, with over 800 visitors engaging in business meetings and consultation sessions, highlighting MIDA’s important role in driving growth and attracting sustainable investments.

One of the highlights was the inaugural exclusive seminar on solar energy, which drew more than 50 participants, including major solar companies and consultants. The seminar, themed “Elevate Your Green Profile: Smart Investment for Sustainable Business Growth,” was organised in collaboration with the Malaysian Photovoltaic Industry Association (MPIA), UOB Malaysia, and North Consult Engineering. The importance of collaboration in reshaping Malaysia’s green energy landscape was emphasised by MPIA President Davis Chong, who envisioned a brighter and cleaner future through collective efforts.

In an exclusive interview with BERNAMA, Ms. Lim Bee Vian, Deputy Chief Executive Officer (Investment Development) of MIDA, elaborated that green technology investments in Malaysia have continued to grow, recording RM1.3 billion between January and June 2023, representing a 21.9 percent year-on-year increase. This growth is supported by the approval of 348 green technology projects and services, including renewable energy, all in alignment with the objectives of the National Energy Transition Roadmap (NETR).

The three-day event was a great success, attracting attention from renowned industry players and the business community in the region. The mini seminar on solar energy held at the IGEM 2023 also succeeded in an astounding feat by attracting approximately RM2.3 billion of potential investments, making up 90 percent of the target set for the event.

MIDA will continue to be instrumental in promoting sustainable growth and attracting investments in the green technology industry through its key incentives, the Green Investment Tax Allowance (GITA) and Green Income Tax Exemption (GITE). These incentives were definitely an eye-catching attraction for many attendees at the conference.

As the first contact point for investors, MIDA has received overwhelming responses from both the new and existing industry players and commercial sectors. This facilitation offers opportunities for domestic and foreign companies to thrive in a dynamic nation located at the heart of the ASEAN region.