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KUCHING, July 27: The federal government will introduce specific incentives to encourage new green growth activities such as carbon capture, utilisation and storage (CCUS) which Sarawak has embarked on, in efforts to accelerate Malaysia’s energy transition for climate resilience and promote sustainable economic growth.
Announcing this, Prime Minister Dato Seri Anwar Ibrahim urged Malaysia to emulate Sarawak’s pioneering efforts in the utilisation of hydrogen energy in vehicles and transportation sector as well as CCUS.
“Low carbon development is important to transform the economic landscape to a more sustainable future.
“God willing, Malaysia’s National Energy Transition Roadmap (NETR) will be launched this evening. It will be a guide to expedite Malaysia’s energy transition and change the country’s energy generation methods to ensure climate resilience,” he said in his speech at the launch of the “Madani Economy: Empowering the People” framework in Putrajaya today.
Various efforts are being planned, including increasing renewable energy generation capacity, installing solar panels in government buildings, and establishing renewable energy trading policies within the electricity market system.
Anwar, who is also Finance Minister, stressed the need to overhaul the country’s economic structure in order to steer Malaysia to be the economic leader of Asia.
Among the issues that plague the economic system, he explained, include the problem of the industrial sector contracting prematurely.
“For example, the manufacturing sector has declined below the level of 25 per cent of GDP (Gross Domestic Product).
“The New Industrial Master Plan 2030 (NIMP) to be announced next month will reinvigorate industrialisation and catalyse a new economy,” he said.
In the short-term, Anwar added, the Mid-Term Review of the 12th Malaysia Plan (12MP) to be presented in Parliament will provide room for the government to reassess and set priorities, including blending medium-term growth with more sustainable fiscal policies. — DayakDaily
