Malaysia To Benefit From Green Energy Shift — Juwai IQI
28 Aug 2024
The shift to green energy is supercharging the demand for critical minerals and Malaysians stand to benefit from it, according to an analysis released today by global real estate technology group Juwai IQI.
Its co-founder and group CEO Kashif Ansari said the green transition is an opportunity to build a stronger Malaysian economy as the country has rich reserves of critical minerals.
Combined with its strategic location, industrial strength and position, it can take advantage of this demand, Kashif said in a statement today.
“Malaysia’s reserves of ‘rare earth elements’ can create more highpaying jobs and export income. Companies around the world are eager to find new suppliers,” he said.
Kashif said Malaysia has RM4.1 trillion of mineral resources, including RM745 billion worth of rare earths; Malaysia’s estimated metallic minerals alone is RM1 trillion.
“By expanding its role in processing and manufacturing these minerals, Malaysia can create new jobs, drive economic growth, and ensure the country remains competitive globally. Government initiatives like the New Industrial Master Plan 2030 are helping to turn this into reality,” he added.
Nevertheless, Kashif noted that becoming a larger exporter of critical minerals also has risks. This includes environmental damage if the industry is not managed sustainability.
With smart investments and a focus on sustainability, Juwai IQI said Malaysia has the potential to help lead the global green energy revolution to create a brighter, wealthier future for its people.
Kashif said the critical minerals boom will have a significant impact on Malaysia’s real estate market, increasing demand for industrial space and land where mineral reserves are present, driving new residential and commercial development, and helping push up property demand and house values.
The increased need for industrial space is the most direct real estate impact, he said.
“The new mining and processing investment will also spur residential and commercial real estate development in key regions. We especially expect this in Pahang, Perak, and Kedah, because
they have rich deposits of critical minerals,” said Kashif.
Source: Bernama
