MALAYSIA has made great strides in its energy transition efforts as well as in improving the ease of doing business in the country, Prime Minister Anwar Ibrahim said.

Speaking to captains of industry in the UAE at a roundtable meeting yesterday, he emphasised Malaysia’s commitment to good and clear policies with regard to renewable energy and technological advancements.

He said Malaysia was one of the earliest countries in Southeast Asia to explore renewable energy, with Sarawak as a major energy hub currently supplying energy to Indonesia’s new capital, Kalimantan. 

At the same time, Malaysia is also participating in the first cross-border power trade in the Asean region under the Lao-Thailand-Malaysia-Singapore power integration project to strengthen the Asean power grid.

“The capacity is so large because of the new investments that rely on the power grid and renewable energy,” he said.

The prime minister also highlighted the Investment, Trade and Industry Ministry’s efforts to ease the process of doing business in Malaysia with the New Industrial Masterplan (NIMP) 2030. 

“The NIMP provides a clear direction as to what needs to be done, and such clarity is needed to ease doing business to ensure we remain competitive,” he said.

Anwar said Malaysia is in the lead in terms of new technology in microchips and semiconductor industries among developing countries.

He said Germany’s largest semiconductor manufacturer, Infineon Technologies AG, planned to spend €5 (RM25) billion on building the world’s largest 200mm silicon carbide power fabrication plant in Malaysia.

The prime minister said Malaysian economy was thriving in the 199’s and is set to thrive again together with its Asean counterparts.

“This means we need to do whatever is necessary to be competitive so that our economy and our people can benefit from this policies and initiatives.

“When you come to Malaysia, you can see it for yourself, see the changes from what you observed five or three or even two years ago.

“I want to prove a point – now things are much better and it is easy to do business due to clear determination and effective leadership as we want to make sure things function effectively,” he said.

Foreign Minister Dr Zambry Abdul Kadir, Investment, Trade and Industry Minister Tengku Zafrul Abdul Aziz and UAE State Minister for Foreign Trade Thani Ahmed Al Zeyoudi were present at the event.

Anwar is on a two-day working visit to the UAE. – Bernama, October 6, 2023.