KUALA LUMPUR: The Investment, Trade and Industry Ministry aims to attract RM300 billion of green investments by 2030 to achieve Malaysia's net zero emission commitments.
Its minister Tengku Datuk Seri Zafrul Abdul Aziz said green investments realised in Malaysia between 2017 and 2023 were about RM40 billion.
"In the Green Investment Strategy, we plan to increase it to RM300 billion by 2030. That is a very progressive target but that is the target we need to achieve.
"This is a 7.5 times increase that we need, in line with the National Energy Transition Roadmap (NETR), which aims to achieve RM300 billion over the next decade ," he said at a media conference after presenting the Green Investment Strategy here today.
Tengku Zaffrul added that the aims will also help the nation to achieve net zero carbon emission by 2050 in the NETR and New Industrial Master Plan 2030.
He hopes that the Finance Ministry will approve the incentives requested by the ministry in the 2025 Budget to help companies in their green energy transition which is costly.
"For example, to make factory which produce more carbon emission more efficient, it will need to invest in new technology.
"We would like to see local companies as well as small and medium enterprises to gain benefits from the incentives for their transition," he added.