MIDA’s Pioneer Seminar on Smart Investment for Sustainable Business Growth Garners Potential Investment Leads of RM2.3 Billion during IGEM2023
KUALA LUMPUR, 6 October 2023 – The Malaysian Investment Development Authority (MIDA), in collaboration with the Malaysian Photovoltaic Industry Association (MPIA), UOB Malaysia and North Consult Engineering, hosted a pioneering seminar on solar energy at the Kuala Lumpur Convention Centre (KLCC) in conjunction with the International Greentech & Eco Products Exhibition and Conference Malaysia 2023 (IGEM 2023). The seminar was a resounding success, generating RM2.3 billion in investment leads which contributes 90% to MIDA’s target for IGEM 2023. This is a testament to the country’s commitment to being at the forefront of green technology innovation, as businesses worldwide embrace the imperative of sustainability.
Themed “Elevate Your Green Profile: Smart Investment for Sustainable Business Growth,” the event drew attention as it marked the first-ever solar energy seminar at IGEM, reinforcing the exhibition’s status as Southeast Asia’s largest trade event for green technologies and eco solutions.
During the seminar, a distinguished lineup of experts in the field of solar energy provided comprehensive insights, ranging from industry trends to tax incentives, government-backed loans and specialised financing solutions. This facilitated a robust exchange of knowledge and strategies crucial for sustainable energy integration.
Ms. Lim Bee Vian, Deputy Chief Executive Officer (Investment Development) of MIDA, highlighted the critical role of green technology in elevating businesses’ ESG performance, creating a pathway toward sustainable and responsible growth. She stated, “Malaysia’s Green Plan is a comprehensive, nationwide movement aimed at advancing our country’s sustainable development agenda. The recently launched National Energy Transition Roadmap (NETR) and the New Industrial Master Plan 2030 (NIMP 2030) outline Malaysia’s path to a sustainable and inclusive energy future. These strategic moves aim to mitigate economic risks associated with ESG factors, increase Malaysia’s attractiveness as an investment destination, and ensure our exporters maintain access to ESG-sensitive markets.”
Mr. Davis Chong, President of MPIA took the stage to deliver the seminar’s closing remarks. He underscored the paramount importance of collaboration and innovation within the solar energy sector, stated “In an era where sustainable energy solutions are no longer an option but a necessity, it’s heartening to witness the vibrant discussions and shared commitment in this room. The solar energy industry is at the forefront of reshaping Malaysia’s green energy landscape, and collaboration is key. Together, we can drive positive change and create a brighter, cleaner future.”
Mr. Beh Wee Khee, Managing Director and Country Head of Commercial Banking, UOB Malaysia said that energy efficiency improvements are the low-hanging fruits that businesses can leverage to kick-start their sustainability efforts. “UOB Malaysia is proud to support IGEM 2023 as we believe stronger collaboration between banks and industry players can make a real difference. Beyond providing solutions and advisory services, we are here to be a partner for companies looking to transition to net-zero. Whether they are seasoned investors or small companies looking at capitalising on green technology to embark on a green journey, we have tailored the right solutions under our sector-focused financing frameworks to help them achieve their ambitions.”
Investors and industry enthusiasts were reminded of the critical role of consultancy services in driving progress within the electrical utilities, solar, and power plant industries. As the green technology landscape evolves, expert guidance from entities like North Consult Engineering Sdn. Bhd. continues to be a beacon for those embarking on their journey towards sustainable growth.
The collaborative spirit and shared commitment witnessed at the seminar today reinforce the pivotal role of the solar energy industry in reshaping Malaysia’s green energy landscape. Together, through continued partnership and innovation, Malaysia has the power to drive positive change and forge a brighter, cleaner future.
MIDA is the Government’s principal investment promotion and development agency under the Ministry of Investment, Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA today has 12 regional and 21 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on X, Instagram and Facebook, LinkedIn, TikTok and YouTube channel.
The Malaysian Solar Industry Association (MPIA), established in 2007, is a non-profit organisation recognised by the Ministry of Natural Resources Energy and Climate Change (NRECC) formerly known as KeTTHA. The MPIA is dedicated to provide a credible and representative platform for the Malaysian Solar industry. We envision that in the future everyone will be able to generate their own electricity via Solar PV. MPIA expresses the industry’s interests and delivers the relevant concerns to government and policy makers that shape the landscape of the Solar industry in Malaysia. MPIA’s strong voice comes from its members consisting of the Solar supply chain. This is inclusive of manufacturers, service providers, system integrators, consultants, an insurance provider, training providers and academicians. Our goal is to ensure the strong, efficient, ethical and professional growth of the Solar industry.
MPIA encourages industries connected to the Solar Photovoltaic industry to join us as the association members, whereby more industry information will be gathered and shared. Among others, the members of the association are entitled for a training discount and exclusive invites to the event organised by MPIA.
For more information, please visit us at https://mpia.org.my/membership-2/
About UOB Malaysia:
UOB Malaysia is rated among the top banks in Malaysia with a long-term AAA rating from Ratings Agency of Malaysia. It has over seven decades of presence in the country, and operates 55 branches nationwide, offering both conventional and Islamic banking services to its customers.
UOB Malaysia is a subsidiary of UOB, a leading bank in Asia with a global network of around 500 offices in 19 countries and territories in Asia Pacific, Europe, and North America. UOB has adopted a customer-centric approach to creating long-term value by staying relevant through its enterprising spirit and doing right by its customers. UOB is focused on building the future of ASEAN – for the people and businesses within, and connecting with ASEAN.
The Bank connects businesses to opportunities in the region with its unparalleled regional footprint and leverages data and insights to innovate and create personalised banking experiences and solutions catering to each customer’s unique needs and evolving preferences. UOB is also committed to helping businesses forge a sustainable future, by fostering social inclusiveness, creating positive environmental impact and pursuing economic progress. UOB believes in being a responsible financial services provider and is steadfast in its support of art, social development of children and education, doing right by its communities and stakeholders.
For further information, please visit www.uob.com.my.
FOR MORE INFORMATION, PLEASE CONTACT:
Mr. Nelson Samuel Wilson
Director, Green Technology Division
Email: [email protected]
Tel.: +603-2267 3635
Ms. Nik Nuratisha Nik Ibrahim
Senior Administration Officer
E Tel.: +603 – 6151 7227
mail: [email protected]
Mr. Nizam Arop
Brand, Media and Communications
Email: [email protected]
Tel: 603-2638 6304/ 6017-333 6329
Ms. Sharie Elina Ibrahim
Brand, Media and Communications
Email: [email protected]
Tel: 603-2638 6589/ 6012-682 6300