The government was committed to providing better access to credits, incentives and capacity building programmes to facilitate and boost ‘green’ investments that would further spur the efforts, particularly within the commercial and private sector fraternity.
The soon to be launched Green Technology Master Plan is a testimony of the government’s earnest intention to continuously provide direction and motivation for the growth of, and promising investments, in green economy related technology, he said in his keynote address at the fifth International Greentech and Eco-Product Exhibition (IGEM2014) here on Thursday.
“The government believes that effective policies and sound frameworks to promote greater investments for green growth will have a direct effect in addressing and dealing with other environment-related changes such as water, energy, food security and health,” he said.
However, Muhyiddin stressed that concerted efforts and collaboration from all parties, including industry players and natural resources users, were crucial in building an effective sustainable economy.
“I am sure that as a group, we will be able to harness our advantages and optimise our strengths and position to reap the potential benefits from the global green wealth market,” he said.
Muhyiddin said according to the United Nations Environmental Programme (UNEP) and the International Labour Organisation (ILO), the world demand for environment-friendly products and services was about US$1.37 trillion (RM4.4 trillion) in 2008, and was expected to increase twice as much by year 2020.
Hence, he hoped that industry players would take advantage of the positive sign to adopt a better and sound sustainable and environment-friendly technology as well as product mechanisms.
“I urge all industry players to continue to work together to develop new green technologies to harness the enormous potential to create wealth, besides ensuring the well-being of our respective countries and communities,” he added.
On research and development (R&D), Muhyiddin said the government and industry players must work together to ensure that viable and practical green technologies could be produced and adopted by market players at a reasonable cost.
He said when all parties involved in the process understand that the final eco-products derived from the R&D would be mutually beneficial and commercially viable, then the cost of research could be shared.
Muhyiddin also called on the United Nations Committee on Environment and Development (UNCED) to continue to provide financial assistance, capacity building programmes and environmentally sound technology transfers for the developing and less developing countries to manage sustainable green environment.
“I also urge governments of developed countries to provide concrete assistance to developing countries to help achieve sustainable environment and resource management,” he added.
Present were Energy, Green Technology and Water Minister Datuk Seri Dr Maximus Ongkili and Melaka Chief Minister Datuk Seri Idris Haron.
The three day IGEM2014 themed “Creating Green Wealth” features over 200 exhibitors from 20 countries, showcasing the latest green technology products and services across 600 booths.
Organised by the Energy, Green Technology and Water Ministry, IGEM2014 is expected to attract over 60,000 local and foreign participants and generate about RM1.2 billion in business leads.