MIDA approves 4,230 green tech projects worth RM41 bln up to 2023

02 Apr 2024

The Malaysian Investment Development Authority (MIDA) has approved 4,230 green technology projects worth RM41 billion until 2023, said Deputy Minister of Investment, Trade and Industry Liew Chin Tong.

He noted that the government’s comprehensive ‘whole-of-government’ approach has yielded significant growth in green technology investments.

“This underscores Malaysia’s potential in green technology investment. It has been noted that most approved projects are in the solar segment,“ he said during a question and answer session in the Dewan Negara today.

He was replying to Senator Datuk Dominic Lau Hoe Chai’s query regarding the government’s strategic plan to enhance investment in green technology.

Liew said the government has enhanced the Green Technology Incentive through a tiered approach to further incentivise investment in green technology.

He elaborated that the incentives now encompass a broader range of green investment activities, including green hydrogen, electric vehicle charging stations, and wind energy.

“This enhancement aims to spur both new and existing companies to invest, thereby advancing the goal of achieving a carbon-neutral country by 2050,“ he added.

Source: Bernama