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Tuesday, 27 June 2017

(The Star) Four MoUs worth RM214mil inked

ASTANA: Four memorandums of understanding (MoUs) collectively valued at nearly US$50mil (RM214mil) were exchanged between Malaysian companies and foreign investors at the Expo 2017 here.

The exchange was witnessed by Science, Technology and Innovation Minister, Datuk Seri Madius Tangau, who said the MoUs were of great economic significance.

“The MoUs are a testament to Malaysia’s leadership in green growth innovation, and is a good start for Malaysian companies to bring their green technologies to the world,” he said here yesterday.

The MoUs were between Ronser Bio-Tech Bhd and Kazakhstan’s Nusantara Associates Ltd Liability Partnership (LLP), iCycle Malaysia Sdn Bhd with China’s Guangzhou city and India’s Kerala state, as well as between LLP and Free The Seed Sdn Bhd.

Tangau, who launched the third week of the three-month-long Expo 2017 simultaneously with the MoU exchange at the Malaysia Pavilion, said Malaysia aspires to be an emerging global market leader in bioeconomy.

“The bio-based industry is a significant driver of Malaysia’s socio-economic growth, with bio-based innovations being mobilised to increase the country’s competitiveness, promote social inclusion, and drive sustainability,” he said, adding that bio-based companies served as the main pillars for attracting strategic investments, generating revenue and creating employment in the bioeconomy sector.

The theme at the Malaysia Pavilion in the third week is Green Innovation: Powering the Future, which comes under the auspices of his ministry.

According to Tangau, his ministry was promoting the nation’s green technology at the expo, including propagating recycling.

“It (recycling) is impactful because it is grassroots-driven, and represents social innovation which has economic capacity when coupled with the convergence economy,” said Tangau.

Energy, Green Technology and Water Ministry deputy secretary-general Datuk Dr Tan Yew Chong, who was also at the event, said Malaysia had bagged more than US$1.6bil (RM6.8bil) in potential trade and investments within the first three weeks of the expo.

He added the amount had exceeded the RM1bil target initially set for the entire duration of the expo.

Dr Tan also said advanced technologies were utilised at the Malaysia Pavilion to attract investors.

“We are confident of drawing more investments by the end of the expo,” he added.

Expo 2017, which took on the theme Future Energy, began on June 10 with the participation of some 100 nations and more than 10 international organisations.

More can be found at greenfuturemalaysia.com.