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MIDA targets RM2 bln business leads at IGEM 2021

MIDA targets RM2 bln business leads at IGEM 2021

26 Jan 2021

The Malaysian Investment Development Authority (MIDA) is targeting RM2 billion in business leads through the 12th International Greentech & Eco Products Exhibition & Conference Malaysia (IGEM 2021) this year, up from the RM1.6 billion recorded for IGEM 2020.

MIDA chief executive officer Datuk Azman Mahmud said this was supported by the 200 exhibitor booths and over 10,000 visitors from 20 countries anticipated for this year.

“We are indeed proud that the targeted RM1.6 billion business leads for IGEM 2020 have been reinforced with a new projection of RM3.08 billion investment in renewable energy (RE), energy efficiency, solar leasing, integrated waste management, green building and manufacturing sectors,” he said during a virtual press conference to announce the performance of the 11th IGEM held here in October 2020.

Azman noted that the RE segment for waste management had gained highest investment leads of RM1.75 billion (57 per cent), followed by RM814 million (26 per cent) interest in RE for mini hydro.

Themed “Energising Sustainability”, IGEM 2020 delivered more than double the target business leads of RM1.6 billion with a pipeline of RM3.4 billion investment interest.

These leads have been computed from the RM3.08 billion potential investments from 64 projects recorded by MIDA and RM339 million in potential exports recorded by the Malaysia External Trade Development Corporation (MATRADE) during MATRADE’s International Sourcing Programme (INSP).

The IGEM 2020 virtual platform, featuring 161 exhibitors, registered more than 15,000 visitations from 79 countries and clocked up to 10,000 participants engaging in the 55 conference sessions and 77 pocket talks throughout the event from Oct 19 to 23, 2020.

Meanwhile, Environment and Water Minister Datuk Seri Tuan Ibrahim Tuan Man, who was also present at the briefing, said it was commendable that IGEM 2020 had surpassed its targets despite being held virtually for the very first time and against a backdrop of global economic uncertainty.

“This reinforces the ministry’s commitment to expand drive and growth of the green technology sector as an important engine in developing Malaysia’s economy.

“As we continue to recover and build, I urge budding green entrepreneurs and key industry leaders to explore how we can work together and further build partnerships for a greener and sustainable economy in the year 2021,” he added.

Given the success of virtual IGEM 2020, the minister announced that IGEM 2021 would take on a virtual platform again and offer sponsors, exhibitors, participants, as well as all other stakeholders’ greater visibility, flexibility, and opportunities to work with the ministry in catalysing growth in the national, regional and global green economy.

IGEM 2021 will run for six months beginning July 1, 2021, to create more value and opportunities to its exhibitors and visitors. Further details can be obtained at www.igem.my.

Source: Bernama