Assess value chain holistically to drive green economy agenda, says PM - MIDA | Malaysian Investment Development Authority
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Assess value chain holistically to drive green economy agenda, says PM

Assess value chain holistically to drive green economy agenda, says PM

22 Jul 2021

Prime Minister Tan Sri Muhyiddin Yassin has called on all industry players to look into the value chain holistically to drive green economy agenda, in light of the growing demand by consumers.

He said the emergence of the green industry which required innovations, products and services to meet consumers’ demands also paved way to new opportunities and gave businesses for untapped markets.

The Prime Minister said while priority was currently on the country’s battle against the Covid-19 pandemic, it was also time for industries, businesses and various stakeholders to prepare for the socio-economic transition post-pandemic.

He said the introduction of the National Green Technology Policy in 2009 marked Malaysia’s eco-shift from industrial development to a more sustainable economy.

Since its implementation, Muhyiddin said the government recognised the potential of green technology as one of the pillars to accelerate the nation’s economy and promote sustainable development.

“I welcome the efforts by Malaysian companies to establish collaborations on technology and knowledge-sharing within the hydrogen ecosystem, commercialisation and green technologies.

“It is commendable that these companies are committed to actively invest in green hydrogen projects and delivery of renewable energy, circular economy and low carbon mobility.

Muhyiddin said businesses and industries should continue to embrace new norms to boost green transformation.

“I hope that over the next 6 months, IGEM 2021 delegates will rise to the challenge by innovating products and services and offer solutions that can help minimise environmental impacts to ensure the (environment) sustainability for our community,” he said.

Muhyiddin said this when officiating The 12th International Greentech and Eco Products Exhibition and Conference Malaysia (IGEM) 2021.

Themed “Redefining Sustainability”, IGEM 2021 will be held for six months for the first time, with a different focus each month, together with curated conferences and programmes.

Since the first IGEM in 2010, the annual event has attracted over half a million delegates, dignitaries, organisations and companies from more than 80 countries and generated over RM30 billion in business leads.

IGEM serves as a platform to share evolving green agenda, relevant policies and initiatives with the support and participation from the industry and public.

Muhyiddin said last year there were more than 10,000 visits that recorded over RM3 billion in business leads.

According to Muhyiddin, this year’s theme of “Redefining Sustainability” was chosen to focus on climate change and green technology, while addressing the impacts of Covid-19.

“Climate change is showing signs that could have long-lasting impacts on social well-being, economic development and global health.

“We need to find ways collectively to pursue economic and social well-being in an environmentally-friendly manner. I believe IGEM fits such purpose as an important catalyst to chart our way forward.”

Muhyiddin said the current pandemic was a catalyst for all to play a bigger role in sustainability agenda, adding that the government was committed to spur the growth of green economy and transform the nation’s economy.

“The government will continue to adopt a ‘whole-of-nation’ approach to ensure that its policies are clear and conducive, for a sustainable economic development.”

He said it was crucial to continue to engage with all industry players and stakeholders to ensure perpetual environmental sustainability.

Source: NST 22