Malaysia’s sustainable journey needs ‘whole-of-nation’ approach to thrive - MIDA | Malaysian Investment Development Authority
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Malaysia’s sustainable journey needs ‘whole-of-nation’ approach to thrive

Malaysia’s sustainable journey needs ‘whole-of-nation’ approach to thrive

28 Nov 2023

Malaysia’s sustainable development needs a “whole-of-government” and “whole-of-nation” approach to thrive, Deputy Investment, Trade and Industry Minister Liew Chin Tong said. 

He noted that the nation also needs clearly defined and concrete targets across sectors, including manufacturing, energy, transport and infrastructure. 

“We see this as an opportunity for us to grow dynamically and exponentially. Green transition is not a burden but is an opportunity,” he said at the Malaysian Investment Development Authority’s (Mida) inaugural forum “Accelerating Malaysia’s Industry Commitment Towards Sustainability Goals” here on Tuesday. 

Therefore, the government is committed to realise the six goals as outlined under the New Industrial Master Plan 2030 (NIMP 2030), which are aligned with the national investment inspirations.

The NIMP goals are to increase economic complexity, create high-value job opportunities, extend domestic linkages, develop new and existing clusters, improve inclusivity, and enhance environmental, social and governance (ESG) practices. 

The NIMP 2030 also sets out 12 outcome-based targets to measure Malaysia’s manufacturing industry and economic transformation; two of them being derisking the economy against ESG factors and its drive toward net zero goals. 

He believes that the set indicators would be able to shape the future of Malaysia as a sustainable economy. 

Meanwhile, Mida chairman Tan Sri Dr Sulaiman Mahbob highlighted that the agency has been continuously engaging with the private and public sectors to make Malaysia’s green plan a reality.

He said Mida has also successfully established its sustainability division on Aug 1, 2023. 

“In this evolving landscape, sustainable practices are no longer optional. Malaysia must catch and ride the green wave.

“It’s a global commitment that no individual or country can afford to overlook,” he noted. 

The forum is organised in partnership with the National Sustainable Development Goals (SDG) Centre and United Nations Global Compact Malaysia and Brunei, to ignite a sustainability revolution, particularly among small and medium-sized enterprises and mid-tier companies, by promoting the adoption of technology and embracing ESG practices.

Mida also shared its role as the national economic frontliner in pursuing investment promotion in sustainable investment projects, such as e-mobility, renewable energy and circular bio-economy, at the forum. 

Source: Bernama