Malaysia Economy Minister Rafizi Ramli said the country would continue to create an enabling digital ecosystem by preparing the infrastructure, platforms and frameworks to protect consumers and uplift digital businesses. He said the ministry’s emphasis on open and centralised data is also foundational so that data is widely available and accessible.
In his keynote address at National Economic Forum 2023 in Kuala Lumpur today, Rafizi said up to US$1.1 trillion was invested globally into energy transition, with storage, mobility, food and agriculture, and renewables taking up the lion’s share last year. He added that many of the investments combine public and private funding, showing that the role of government in directing money flows is critical for market creation.
“Our efforts of lifting the renewable energy export ban last week and launching the energy transition roadmap in June 2023 are essential starting points for making Malaysia a serious player in the renewable energy space. He added that “By significantly increasing our renewable energy capacity to 70% by 2050 and introducing a cross-border electricity exchange system, we will attract high-quality global investments, especially from RE100 multinationals, into Malaysia, besides creating high-quality jobs for Malaysians in the country,”