by ASILA JALIL/ pic by MUHD AMIN NAHARUL

THE government targets to record investments or business potential worth RM2.8 billion from the International Greentech and Eco Products Exhibition and Conference Malaysia (IGEM) 2019.

“We anticipate that a lot of investments will be for renewable energy (RE) because the government is releasing a lot of different policies regarding RE,” Energy, Science, Technology, Environment and Climate Change Minister Yeo Bee Yin (picture) told reporters at the event in Kuala Lumpur yesterday.

The targeted amount this year is the highest for IGEM, she noted. Previous investments obtained from 2010 to 2018 amounted to RM23 billion.

The government has sponsored RM3 million for this year’s three-day event, according to Yeo.

Sixteen memoranda of understanding (MoUs) will also be signed by various parties at the conference.

“Some of the MoUs signed will also be for RE. But there are also MoUs to be signed under capacity building and landscaping, among others. These are some of the things we seek,” Yeo said.

Many conversations are now gearing towards topics such as energy efficiency (EE) and circular economy, which are related to the Ministry of Energy, Science, Technology, Environment and Climate Change (MESTECC), she added.

This year’s conference, which is organised by MESTECC and Malaysian Green Technology Corp, is themed “Innovating Sustainability” to anchor all innovations on sustainability and adopt sustainability across all industries.

More than 300 exhibitors from over 35 countries are participating in the event.

Among the participants are the European Union-Malaysia Chamber of Commerce and Industry, Taiwan External Trade Development Council, Korea’s Green Energy Institute and the High Commission of Canada.

The conference focuses on seven sectors, namely RE, EE, transport, waste, water, manufacturing and agriculture.

“The most important thing is to encourage business matching, as well as fostering new business partners, and help entrepreneurs explore business opportunities in low carbon economy.

“Our second focus is action on the ground. The purpose of this event is to not just showcase green technology or eco products, but also to generate investments and encourage on-the-ground actions,” Yeo said.