Mida approves 226 biomass projects worth RM2.92b

KUCHING: The Malaysian Investment Development Authority (Mida) has approved 226 biomass projects worth RM2.92 billion in the country, Deputy International Trade and Industry Minister Datuk Ahmad Maslan said.
He said major recipients of the investments were Johor (RM733 million), Selangor (RM571 million) and Sabah (RM472 million), while Sarawak was ranked ninth with 20 approved projects valued at RM93 million.
He said many countries had expressed interest to collaborate with Malaysian companies in biomass activities,
They include Japan, South Korea, China and European countries, he told a press conference after the launch of the two-day International Biomass Conference Malaysia 2017 here by Sarawak Deputy Chief Minister Datuk Amar Douglas Uggah today.
In his welcoming remarks, Ahmad said Sabah and Sarawak have great potentials to be the key players in the biomass industry, given the amount of biomass availability in the two states.
He said the two states have all the criteria to take the regional lead and become the premier biomass processing hub.
Over the past years, the biomass industry has been regarded as one of the main pillars for a sustainable bio-economy, he said, adding that Malaysia has gained international recognition as one of the preferred destinations for the industry.
Nonetheless, he said the biomass sector has not been progressing as fast as it should be because of issues and challenges such as the depressed global economy, fluctuation of oil and gas prices, complexities in the supplies chain, and maturity of technologies.
There have also been obstacles to successful commercialisation of biomass products, but one thing remained clear -- Malaysia is on the right track as it is not a question of "will it happen" but "when", he added.
Ahmad said the government is committed to continuously enhancing the ecosystem as this will be the future growth for Malaysia.
"While Malaysia has put all the necessary plans, infrastructure, enablers and support system to accelerate this industry, the on-going development and deployment should not depend on just the government but is a collective effort," he said.
He said the future of the industry would require close collaboration throughout the entire value chain with all local and international stakeholders. — Bernama