Virtual IGEM 2020 Garnered RM 3.4 Billion Business Leads

Virtual IGEM 2020 Garnered RM 3.4 Billion Business Leads

KUALA LUMPUR, Malaysia, Jan. 26, 2021 /PRNewswire/ — The Ministry of Environment and Water (KASA) today announced impressive gains from the successful 11th International Greentech & Eco Products Exhibition & Conference Malaysia (IGEM 2020), the first virtual edition held in October 2020; solidifying IGEM’s role as South East Asia’s most powerful green technology, business and innovation platform.

Virtual IGEM 2020 Garnered RM 3.4 Billion Business Lead.
Virtual IGEM 2020 Garnered RM 3.4 Billion Business Lead.

Themed “Energising Sustainability”, IGEM 2020, co-organised by the Malaysian Green Technology and Climate Change Centre (MGTC), delivered beyond two-fold of target business leads of RM1.6 billion; achieving a pipeline of RM3.4 billion investment interest. These leads have been computed from the RM3.08 billion potential investments from 64 projects recorded by the Malaysian Investment Development Authority (MIDA) and RM339 million in potential exports recorded by the Malaysia External Trade Development Corporation (MATRADE), during MATRADE’s International Sourcing Program (INSP).

The IGEM 2020 Virtual platform which featured 161 exhibitors registered more than 15,000 visitations from 79 countries and clocked up to 10,000 participants engaging in the 55 conference sessions and 77 pocket talks, throughout the event from 19-23 Oct 2020. The 14 conferences under the IGEM Virtual platform featured 138 local speakers and 69 international speakers.

Yang Berhormat Dato’ Sri Tuan Ibrahim Tuan Man, Minister of Environment and Water said, “It is indeed a commendable feat that IGEM 2020 has surpassed its targets, despite being held virtually for the very first time and against a backdrop of global economic uncertainty. This reinforces KASA’s commitment to expand drive and growth of the green technology sector as an important engine in developing Malaysia’s economy.”

“As we continue to recover and build, I urge budding green entrepreneurs and key industry leaders to explore how we can work together and further build partnerships for a greener and sustainable economy in the year 2021,” he added.

Given the success of virtual IGEM 2020, the Minister announced that IGEM 2021 will take on a virtual platform again and offers sponsors, exhibitors, participants, as well as all other stakeholders’ greater visibility, flexibility, and opportunities to work with the Ministry in catalysing growth in the national, regional and global green economy. IGEM 2021 may run over a period of 6 months to create more value and opportunities to its exhibitors and visitors.

Targeting RM4 billion in business leads with 120 exhibitor booths and over 20,000 visitors from 20 countries this year, IGEM 2021 will also see the reaffirmation of investment strategic partner, MIDA and business-matching partner, MATRADE to organise the much-in-demand business matching sessions for the twelfth consecutive year.

Dato’ Azman Mahmud, Chief Executive Officer of MIDA said, “We are indeed proud that the targeted RM1.6 billion business leads for IGEM 2020 have been reinforced with new projection of RM3.08 billion investment in Renewable Energy (RE), Energy Efficiency (EE), Solar Leasing, Integrated Waste Management, Green Building and manufacturing sectors.  The Renewable Energy segment for waste management has gained highest investment leads of RM1.75 billion (57%), followed by RM814 million (26%) interest in Renewable Energy for mini hydro.”

“Starting from 2016 until September 2020, MIDA has also approved 1,317 green technology projects with investments amounting to RM18.55 billion, as well as 63 specialised green service companies with a total proposed operational expenditure of RM318.51 million, under the incentives of Green Technology. This exuberant indicator points to potentially stronger investment flows in the areas of green technology within our country.” he added.

IGEM 2021 Virtual will be co-organised by the Malaysian Green Technology and Climate Change Centre (MGTC), the lead agency for KASA in charge of developing and implementing new programmes on green growth, climate change mitigation and climate change adaptation; in line with the nation’s green agenda.

Shamsul Bahar Mohd Nor, Chief Executive Officer of MGTC added, “With another triumphant year for IGEM, we look forward to IGEM 2021, which will be held on a bigger scale through the hosting of international exhibitors, regional delegates, industry and thought leaders physically here in Malaysia, as well as reaching out globally to the larger community of international green entrepreneurs via the virtual platform.”

“From our experience in co-organising IGEMs and as demonstrated by the results announced today, the green economy continues to thrive both in Malaysia and globally. In view of the countless possibilities yet to be unearthed within the sector, I think it is truly very exciting to witness how green economy will shape a more environmentally sustainable and economically stable Malaysia in the coming years,” he concluded.

IGEM 2021 Virtual will kick-off on 1st July 2021 till 31st Dec 2021. For further details, please visit www.igem.my.

About Malaysian Green Technology and Climate Change Centre (MGTC)

Formerly known as Pusat Tenaga Malaysia (PTM), Malaysian Green Technology Corporation (MGTC) was restructured in April 2010 and was under the purview of the Ministry of Energy, Green Technology and Water (KeTTHA) until 2018. Assuming the role of the country’s lead agency, MGTC focuses on catalysing the green technology agenda in line with the aspirations of the National Green Technology Policy 2009.

MGTC was under the purview of the Ministry of Energy, Science, Technology, Environment & Climate Change (MESTECC) from 2018 until early 2020. MGTC is currently helmed by the Ministry of Environment and Water (KASA) and now known as the Malaysian Green Technology and Climate Change Centre. MGTC develops and implements programmes on green growth, climate change mitigation and climate change adaptation.

About Malaysian Investment Development Authority (MIDA)

MIDA is the government’s principal promotion agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 20 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram and Facebook.