In a time of rising energy costs,
declining natural resources, and a
changing climate, environmentally
friendly
businesses
play
an
increasingly prominent role in the
global economy. Economies that
have strategically invested in the
green technology sector include
Malaysia. Domestic investments in
green technology totalling RM8.2
billion between 2007 and 2012
increased by nearly eight-fold as
compared to the previous six years,
with notable success in renewable
energy (RE). Malaysia's green
success story can be attributed to
the existence of strategic enablers to
growth the industry, matched by
dynamic indigenous players who are
bold enough to step up to the
challenge of commercialising a
nascent industry.
Given the importance of a
supportive environment to shape the
green market, the government has
put in place a policy framework to
ensure its continued expansion,
especially in sectors of strategic
concern such as renewable energy.
INDUSTRY OVERVIEW
The introduction of the Renewable
Energy (RE) Act of 2011, which rolled
out the feed-in tariff (FiT) mechanism
to scale up electricity generation
using renewable energy sources like
solar,
biomass,
biogas
and
mini hydro, generated a massive
photovoltaic manufacturing industry
that has attracted over RM12 billion
in foreign direct investment and
created over 10,000 highly-skilled
jobs. Other important measures
include establishing agencies such as
the Malaysian Green Technology
Corporation (GreenTech Malaysia)
and
Sustainable
Energy
Development Authority (SEDA) to
provide the required support to
promote the industry and elevate
local players to an international level.
Cognisant that inadequate credit
and financing opportunities can
hamper the growth of a nascent
industry, the Malaysian government
launched a loan programme named
the Green Technology Financing
Scheme (GTFS) to boost private
sector
participation
and
entrepreneurship in green markets.
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