MIDA'S PIONEER SOLAR ENERGY SEMINAR AT IGEM 2023 GARNERS RM2.3 BLN POTENTIAL INVESTMENT

The Malaysian Investment Development Authority's (MIDA) pioneer seminar on solar energy, hosted in conjunction with the International Greentech and Eco Products Exhibition and Conference Malaysia 2023 (IGEM 2023), has clinched RM2.3 billion potential investments.

The investment facilitation agency said the achievement constituted 90% of its target set for IGEM this year.

The seminar, themed “Elevate Your Green Profile: Smart Investment for Sustainable Business Growth”, was organised in collaboration with the Malaysian Photovoltaic Industry Association (MPIA), UOB Malaysia and North Consult Engineering at the Kuala Lumpur Convention Centre (KLCC).

In a statement, MIDA said the collaborative commitment witnessed at the seminar reinforced the pivotal role of the solar energy industry in reshaping Malaysia's green energy landscape.

“Malaysia's Green Plan is a comprehensive, nationwide movement aimed at advancing our country's sustainable development agenda.

“The recently launched National Energy Transition Roadmap (NETR) and the New Industrial Master Plan 2030 (NIMP 2030) outline Malaysia's path to a sustainable and inclusive energy future,” deputy chief executive officer (Investment Development) of MIDA Lim Bee Vian said.

Lim said these strategic moves aimed to mitigate economic risks associated with environmental, social and governance (ESG) factors, ensuring exporters maintain access to markets and increase Malaysia’s attractiveness as an investment destination.

Meanwhile, MPIA president Davis Chong said the solar energy industry is at the forefront of reshaping Malaysia's green energy landscape and, therefore, reckons that collaboration is key.

“Together, we can drive positive change and create a brighter, cleaner future,” Chong said.

UOB Malaysia managing director and country head of commercial banking Beh Wee Khee said he believed that energy efficiency improvements are the low-hanging fruits that businesses could leverage to kick-start their sustainability efforts.

“Whether they are seasoned investors or small companies looking at capitalising on green technology to embark on a green journey, we have tailored the right solutions under our sector-focused financing frameworks to help them achieve their ambitions,” he added.