Malaysia poised to become integrated hub for solar products - PM - MIDA | Malaysian Investment Development Authority
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Malaysia poised to become integrated hub for solar products – PM

Malaysia poised to become integrated hub for solar products – PM

24 Jun 2021

Malaysia is poised to become an integrated hub for solar products in the near future.

Prime Minister Tan Sri Muhyiddin Yassin said this follows an investment totaling RM42.2 billion by Risen Energy through Risen Solar Technology Sdn Bhd (Risen Solar), for a period of 15 years beginning this year.

The China-based manufacturer is the fifth largest solar modules manufacturer in the world.

Muhyiddin said the investment would create 3,000 employment opportunities for the people in the country.

The operation of Risen Solar, he said, was approved through the manufacturing license and incentive under the Economic Recovery Plan (Penjana).

“Apart from creating employment opportunities, Risen Solar will also enter into cooperation with local universities and higher education institutions to conduct research and development activities as well as enrolling students through internship programmes.

“I am confident that the presence of Risen Solar will transform Malaysia into an integrated hub for solar products,” said Muhyiddin in a Facebook post today.

He said apart from Risen Solar, there are currently several other global solar companies operating in the country.

They are Jinko Solar, Longi Solar, JA Solar, Hanwha Q Cell, First Solar and Sun Power.

The investment by Risen Energy, Muhyiddin said, also reflected the confidence by foreign investors in the country following its success in managing the economy amid the Covid-19 challenges.

“Alhamdulillah, the trend of continuous inflow of high-impact foreign investments will certainly boost confidence among the investors on Malaysia’s economic recovery prospect, in line with the aspirations of the National Recovery Plan.

“This will definitely bring great benefit to the people, not only in terms of employment opportunities and generating income,” he said.

Earlier this morning, Muhyiddin said he conducted am online meeting with Risen Energy’s chairman and president, Xie Jian.

The virtual meeting was joined by Senior International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali and Malaysian Investment Development Authority (MIDA) chief executive officer Arham Abdul Rahman.

During the meeting, Muhyiddin shared with Xie Jian that the Malaysian government adopted an investor-friendly approach and that the country would open its door for new and quality investments.

He said this was evident through the numerous incentives available for foreign investors and the government’s continuous commitment in ensuring that the projects proceed according to plan.

Source: NST