GOVERNMENT GENERATES RM7.88 BLN IN GREEN INVESTMENTS, CREATES OVER 2,000 JOBS IN 2024

KUALA LUMPUR, Nov 4 (Bernama) -- A total of RM7.88 billion in green investments was generated in 2024 through various initiatives implemented by the Ministry of Natural Resources and Environmental Sustainability (NRES).

These initiatives include the Green Investment Tax Allowance (GITA), the Green Technology Financing Scheme (GTFS) 4.0, and the International Greentech and Eco Products Exhibition and Conference Malaysia (IGEM).

Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani, who is also the acting Minister of NRES, said the initiatives also contributed to the creation of more than 2,000 green jobs in 2024, while cumulatively, the sector has created nearly 34,000 jobs to date.

He said the RM7.88 billion figure includes contributions from GITA, GTFS 4.0, and IGEM.

"This contribution includes investment commitments secured through the IGEM series since 2020, which has successfully generated over RM10 billion in potential green investments to date," he said during a question-and-answer session in the Dewan Rakyat today.

Johari was responding to a supplementary question from Datuk Seri Ahmad Samsuri Mokhtar (PN–Kemaman), who asked about achievements related to green investment targets, the number of green job opportunities under the NRES Strategic Plan 2024–2030, and the main challenges in meeting these goals.

He said the achievement was in line with the targets outlined in the strategic plan, which emphasises green economic development, renewable energy, and the transition towards a low-carbon industry.

Responding to Ahmad Samsuri's additional question on inter-ministerial collaboration to ensure the reported achievements are not merely based on impressive figures, Johari acknowledged that several major challenges remain.

He said the challenges include limited access to financing for small and medium enterprises (SMEs) and a shortage of skilled labour in the local green technology sector.

I admit that one of our concerns is access to financing. The government can fund small-scale projects, but for large-scale initiatives, they must demonstrate economic value.

“When there is economic value, local banks or banks capable of providing substantial financing will be involved. Therefore, what we are facing today is a situation where SMEs are unable to access this green financing,” he added.

-- BERNAMA