PETALING JAYA: The Malaysian International Chamber of Commerce and Industry (MICCI) has announced its commitment on driving environmental, social and governance (ESG) adoption among the business community in Malaysia.
According to a statement, the initiative aligns with the National Industrial Master Plan (NIMP) 2030, via the promotion of industrial 4.0 technology adoption to enhance productivity and competitiveness, as well as striving towards net-zero carbon by 2050.
MICCI president Christina Tee said currently, Malaysia was at a pivotal moment where dedication to innovation and sustainability will be a key driver to the nation’s future success.
Some of the ESG initiatives outlined by MICCI include enhancing waste management processes to convert waste into renewable energy, setting benchmarks for industries.
At the same time, MICCI has an ambition to strive towards net-zero carbon by 2050, in which members are initiating ambitious projects to transition entire energy consumption to 100% renewable sources by 2030 and implementing carbon capture and storage (CCS) technologies to reduce greenhouse gas emissions from operations.
Re-elected as the president for 2024/2025, Tee emphasised the importance of continued collaboration and innovation to support Malaysia’s growth and global competitiveness.
“We will also continue our efforts in strengthening international partnerships, such as our collaboration with the Investment, Trade and Industry Ministry (Miti) and the Malaysian Investment Development Authority to unlock grants for small medium enterprises, and our involvement in the Prime Minister Hibiscus Award, reflect our commitment to fostering a sustainable and energy-secure future,” she said in a statement in conjunction with MICCI’s AGM.
The AGM featured Deputy Minister of Investment, Trade and Industry Liew Chin Tong, who highlighted Malaysia’s renewed economic optimism and strategic initiatives aimed at enhancing the country’s global economic positioning.
He noted the stability of the country’s current government under Prime Minister Datuk Seri Anwar Ibrahim, and the importance of strong ties with Asean neighbours, China and the Global South for more economic dynamism
Liew then stressed the goal, which is to extend beyond merely manufacturing for exports in order to become an innovative nation that improves the living conditions of all Malaysians.
“To achieve this, there is a need to develop local champions through more stringent localisation policies, especially for multinationals,” he said.
The National Semiconductor Strategy is a prime example of this approach – as it aims to nurture at least 10 semiconductor-related companies with revenues between RM1bil and RM4.7bil, and 100 more with revenues nearing RM1bil.
This strategy is designed to enhance high quality manufacturing, drive innovation, and provide higher wages for Malaysian workers.
“Miti will continue to support MICCI’s visions to drive broad-based growth and success of businesses in Malaysia,” he added.
