Kuala Lumpur: The latest estimates on the effectiveness of the National Energy Transition Roadmap’s (NETR) flagship projects and initiatives show investments involved will be worth RM60.7 billion instead of the initial projection of RM25 billion when the roadmap was launched on Aug 29, 2023.
The Economy Ministry said this was based on the March 2024 progress report, which also shows that 84,544 job opportunities would be created (development and post-project) compared with the initial forecast of 23,000 jobs.
Furthermore, the reduction in greenhouse gas (GHG) emissions is npw estimated at 24,264 gigagrams of carbon dioxide equivalent (Gg CO2eq) per year compared with 10,000 Gg CO2eq per year that was initially forecast, the ministry said in a written reply posted on the Parliament website this week.
This was in response to Datuk Seri Dr Shahidan Kasim’s (PN-Arau) request for a status report on the NETR and New Industrial Master Plan 2030 (NIMP 2030).
SPONSORED CONTENT Shell awards Sabah LiveWIRE winners Kota Kinabalu: Shell has awarded five enterprises as the state winners of Shell LiveWIRE Malaysia 2024, following the Sabah state finals held at Plaza Shell in Kota Kinabalu. . Read more The ministry added that the government is committed to ensuring the energy transition management is based on the whole-of-nation approach encompassing the Federal Government, state governments, general public and international community for a unified policy planning and implementation in balancing the energy trilemma of security, affordability, and sustainability.
“The effectiveness in the NETR implementation is expected to increase the contribution to the national gross domestic product, create job opportunities, enhance the people’s socioeconomic status, and ensure energy security and environmental sustainability,” it added.
Meanwhile, the recent article published by Forbes Magazine is compelling and deserves attention from the Malaysian and international press.
SPI Asset Management managing director Stephen Innes told Bernama it is refreshing to see a focus on Malaysia’s political positives instead of political storm clouds written by the writer, Benjamin Laker.
Innes said beyond fiscal prudence and subsidies, the government’s significant move into the semiconductor space stands out.
He said Malaysia, once known as the Silicon Valley of the East until Taiwan and South Korea took the lead in the chip industry, aims to reclaim its former glory.
“Establishing a new semiconductor task force underscores Malaysia’s commitment to elevating its industry from back-end assembly to high-tech front-end manufacturing.
“With a well-established semiconductor ecosystem already in place, Malaysia is well-positioned to attract significant investments, especially in high-value sectors such as semiconductor manufacturing.
“Prime Minister Datuk Seri Anwar Ibrahim’s strategic move underscores Malaysia’s potential to become a semiconductor powerhouse in the region,” he added.
Meanwhile, Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the article suggested that the government reforms agenda has been noticed by foreign parties.
“This would help build the credibility of the present administration with respect to their selling pitch to the foreign investors and businesses to invest in Malaysia.
“The country certainly has what it takes for them to invest and thrive as the government reprioritise spending to boost the country’s productivity in the mid to long term,” he said.
Mohd Afzanizam further said reforms are normally associated with unpopular measures and the present government is bold enough to take up the challenges while simultaneously ensuring that the reform agenda would be implemented at a measured pace.
“I believe that is what caught Forbes’ attention given the abundance of potential of the Malaysian economy,” he added.
In the article dated July 10, 2024, Laker commended the measures taken by the prime minister in attracting investments in high-value sectors such as semiconductor and digital technology, and the steps taken to address inadequacies by introducing a series of new taxes while optimising cost amid persistent challenges.
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