Mida targets RM2 bil business leads at green tech expo

KUALA LUMPUR – The Malaysian Investment Development Authority (Mida) is targeting RM2 billion in business leads through the 12th International Greentech & Eco Products Exhibition & Conference Malaysia (IGEM 2021), up from the RM1.6 billion recorded in last year’s edition.

Mida chief executive Datuk Azman Mahmud said 200 exhibitor booths, and over 10,000 visitors from 20 countries are expected this year.

“We are indeed proud that the targeted RM1.6 billion business leads for IGEM 2020 have been reinforced with a new projection of a RM3.08 billion investment in the renewable energy (RE), energy efficiency, solar leasing, integrated waste management, green building, and manufacturing sectors,” he told a virtual press conference to announce the performance of the 11th IGEM, which was held here last October.

Azman noted that the RE segment for waste management gained the highest investment leads at RM1.75 billion (57%), followed by RM814 million (26%) in RE for mini hydro.

Themed “Energising Sustainability”, IGEM 2020 delivered more than double the targeted business leads of RM1.6 billion, with a pipeline of RM3.4 billion investment interest.

These leads were computed from the RM3.08 billion in potential investments from 64 projects recorded by Mida, and RM339 million in potential exports recorded by the Malaysia External Trade Development Corporation under its International Sourcing Programme.

Environment and Water Minister Datuk Seri Tuan Ibrahim Tuan Man, who was present at the briefing, said it is commendable that IGEM 2020 surpassed its targets, despite being held virtually for the first time and against a backdrop of global economic uncertainty.

“This reinforces the ministry’s commitment to expand the drive and growth of the green technology sector as an important engine in developing Malaysia’s economy.

“As we continue to recover and build, I urge budding green entrepreneurs and key industry leaders to explore how we can work together and build partnerships for a greener and more sustainable economy in the year 2021.”

IGEM 2021, to be conducted virtually, will run for six months starting July 1. – Bernama, January 26, 2021