Malaysian companies can learn from Swedish model - MIDA | Malaysian Investment Development Authority
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Malaysian companies can learn from Swedish model

Malaysian companies can learn from Swedish model

16 Mar 2022

Sweden firms allow the public to visit their laboratories and have meals with their staff which resulted in many opportunities

MALAYSIAN companies need to learn from each other and other nations to achieve better results with their research and development and innovations. 

Ministry of Environment and Water (KASA) secretary general Datuk Seri Dr Zaini Ujang said he has observed in Sweden companies, such as AstraZeneca plc, which allow the public to visit their laboratories and have meals with their staff. 

“This is something that we love to learn from them, that they are not exclusively quiet and secretive of their ideas and innovations. As a result, you have many opportunities,” he said during the Business Models for Sustainability Forum yesterday. 

He added many companies worldwide usually want to protect their secrets from the public. 

The forum was organised by KASA in collaboration with the Swedish Embassy to strengthen bilateral relations and global sustainability. 

Themed “Achieving Balance between Economy and Planet Health” the event aims to expose participants to the importance of business models that support the sustainability agenda, thus contributing towards better planetary health. 

Multinational companies from Sweden share their best practices of a sustainable business model together with government agencies at the forum. 

Planetary health is the latest approach in looking at aspects and issues that are environment-centred and requires ideas and solutions that are high value, universal and respect for all forms of life. 

Also present during the forum were KASA Deputy Minister Datuk Mansor Othman and Ambassador of Sweden to Malaysia Dr Joachim Bergstrom. 

The Scandinavian nation has been a frontrunner in the use of renewable energy resources and low CO2 emissions and a leader in social and governance practices such as labour participation, education and institutional framework. 

The Swedish green model — which integrates business and sustainability — has emphasised that green growth can thrive in the transition to innovation, safeguarding our environment and developing society. 

Bergstrom said Sweden is aiming to be the world’s first fossil-free nation and targets to achieve zero greenhouse gas emissions by 2045. 

“It’s important to keep in mind that sustainable business is a profitable business. In the green tech sector, for example, several Swedish companies are leaders in their fields. The combination of a high level of environmental awareness and knowledge of strict environmental legislation allowed Swedish companies to be environmentally efficient in their operations,” the ambassador explained. 

Source: The Malaysian Reserve