IGEM Supports Malaysia’s Race Towards Net-Zero

The International Greentech and Eco Products Exhibition and Conference Malaysia (IGEM) is the largest trade event for green technologies and eco-solutions in South East Asia. IGEM is an ideal platform for solution providers and green energy businesses to tap into the fast-expanding ASEAN market by showcasing the latest innovations to policymakers, government organisations, investors, and as well as the public.

IGEM 2022, ran from 12 to 14 October 2022 at the Kuala Lumpur Convention Centre, and was organised by the Ministry of Environment and Water (KASA) in collaboration with the Malaysian Green Technology and Climate Change Corporation (MGTC). Now in its 13th series, IGEM 2022’s larger scope focused on sustainability and environmental, social, and governance (ESG) efforts with the theme: Race Towards Net Zero: Fulfilling Sustainable Development Goals (SDG) and Environmental, Social and Governance (ESG) commitments.

The event also highlighted green economy activities and business matching opportunities for all relevant stakeholders in the sustainable energy, climate change, green technology and environmental sectors. IGEM 2022 showcased 370 exhibition booths (including seven international pavilions) which included conferences, Pocket Talk sessions, and countless business meetings. Together, these mini-events attracted a total of 33,150 domestic and international participants.

As in previous editions, MIDA continued to be a strategic and important partner in IGEM 2022. MIDA’s participation, anchored by its Green Technology Division, involved sharing updates on the latest government policies, incentives, facilities, and support services available for local and foreign investors in the green technology industry. More than 200 people visited MIDA’s booth, of which 140 were involved in business meetings and consultations. MIDA personnel and representatives also spoke in various programmes, including the Pocket Talk sessions. These include “Forging a Sustainable Future” organised by UOB Bank and the “Government’s Facilitation Towards Sustainable Investments”.

MIDA’s key green technology incentives are the Green Investment Tax Allowance (GITA) and Green Income Tax Exemption (GITE). These two received encouraging responses in IGEM 2022. Through various projects, industry players and commercial sectors are encouraged to invest in green technology areas such as renewable energy (RE) sources (solar, biomass, biogas, and mini-hydro), and other green technology projects such as energy efficiency (EE), green buildings, green data centres, and integrated waste management.

In 2021, a total of 882 green technology projects were approved by MIDA with investments amounting to RM3.66 billion, while seven green services projects were approved with investments of RM21.8 million.

MIDA plays a significant role in the nation’s commitment to achieving carbon neutrality by 2050. This includes the promotion of the latest ESG best practices in strategic sectors such as the manufacturing and services sectors. IGEM 2022 provided a platform for local champions to state their pledge towards ESG. For example, Petronas, Gading Kencana, Sime Darby, and Cypark pledged their commitment to incorporate ESG practices. As the coordinator for the country’s industrial development, MIDA is working closely with industry players to ensure that ESG and SDG principles are met, in Malaysia’s race towards net zero.

To learn more about green technology incentives, please contact the Green Technology Division MIDA.