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PM: Govt developing framework to make Malaysia leading destination for green investment

PM: Govt developing framework to make Malaysia leading destination for green investment

09 Jan 2024

The government will develop a framework, along with a specific plan to make Malaysia a leading destination and hub for green investment in the region.

Prime Minister Datuk Seri Anwar Ibrahim said the framework is a continuation of various initiatives under the National Energy Transition Roadmap (NETR) to channel investments into high-growth and high-value (HGHV) sectors.

“With regards to the emphasis on green investment, it was decided that the Kerian Integrated Industrial Park will be renamed the Kerian Integrated Green Industrial Park.

“It is hoped that this will be the catalyst for the industries that will be developed in the industrial park to fully transition to renewable energy,” he said in a post on his Facebook page today.

Earlier today, Anwar had chaired the National Investment Council’s (NIC) first meeting of the year to discuss the strategies and direction in boosting investments in the country.

Anwar said the council had also discussed the importance of the semiconductor industry, which contributed to 7.1 per cent of Malaysia’s gross domestic product (GDP).

Following this, Anwar added that the National Semiconductor Strategic Task Force (NSSTF) will be set up to develop the ecosystem of semiconductors and attract strategic investments in the sector.

“All these efforts are steps to ensure that investments implementation in the country will achieve the objectives of the Madani economy.

“This includes positioning Malaysia among the top 30 in terms of the world’s largest economies and the top 12 in global competitiveness within 10 years,” he said.

Through the ‘Madani Economy: Empowering the People’ framework launched by Anwar last year, Malaysia aims to elevate its economy to be among the world’s top 30 largest in less than 10 years, from number 37 in 2022 based on World Bank data.

This includes focusing on greater regionalisation and competitiveness, prioritising economic complexity and moving up the value chain.

Source: NST