Eurasia Review on Nostr: Malaysia’s Green Transition Can Fuel Its Economic Growth – Analysis ========== ...
Malaysia’s Green Transition Can Fuel Its Economic Growth – Analysis
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Malaysia, under Prime Minister Anwar Ibrahim, has launched the Ekonomi Madani Framework, the National Energy Transition Roadmap (NETR), and the New Industrial Master Plan 2030 to achieve sustainable transformation. The green transition could be a new engine for growth, especially as Malaysia has de-industrialized in the past two decades. Geopolitical shifts, digitalization, and the global trend towards sustainability are driving the development of the renewable energy, electric vehicles (EV), and artificial intelligence industries, which rely on semiconductors. Malaysia, being the sixth-largest exporter of semiconductors, has the opportunity to expand its semiconductor industry and move up the value chain. The government is deploying at least US$5.3 billion to foster talent, grow local companies, and establish at least 10 companies in design and advanced packaging. Malaysia's abundant renewable energy resources and skilled workforce make it well-positioned for the green transition. The government aims for EVs to form 80% of total industry volume by 2050 and has rolled out measures to boost EV adoption, including building more EV chargers and providing tax exemptions. Malaysia's green transition can accelerate its economic growth and development.
#Malaysia #GreenTransition #EconomicGrowth #SustainableTransformation #SemiconductorIndustry #RenewableEnergy #ElectricVehicles #EvAdoption
https://www.eurasiareview.com/28072024-malaysias-green-transition-can-fuel-its-economic-growth-analysis/
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Malaysia, under Prime Minister Anwar Ibrahim, has launched the Ekonomi Madani Framework, the National Energy Transition Roadmap (NETR), and the New Industrial Master Plan 2030 to achieve sustainable transformation. The green transition could be a new engine for growth, especially as Malaysia has de-industrialized in the past two decades. Geopolitical shifts, digitalization, and the global trend towards sustainability are driving the development of the renewable energy, electric vehicles (EV), and artificial intelligence industries, which rely on semiconductors. Malaysia, being the sixth-largest exporter of semiconductors, has the opportunity to expand its semiconductor industry and move up the value chain. The government is deploying at least US$5.3 billion to foster talent, grow local companies, and establish at least 10 companies in design and advanced packaging. Malaysia's abundant renewable energy resources and skilled workforce make it well-positioned for the green transition. The government aims for EVs to form 80% of total industry volume by 2050 and has rolled out measures to boost EV adoption, including building more EV chargers and providing tax exemptions. Malaysia's green transition can accelerate its economic growth and development.
#Malaysia #GreenTransition #EconomicGrowth #SustainableTransformation #SemiconductorIndustry #RenewableEnergy #ElectricVehicles #EvAdoption
https://www.eurasiareview.com/28072024-malaysias-green-transition-can-fuel-its-economic-growth-analysis/