June 4, 2009 at 11:45 am
The government has identified solar energy as one of the growth areas to promote, said Malaysian Industrial Development Authority (MIDA) senior director, investment, Phang Ah Tong.
He said the country has attracted three solar energy projects involving a substantial investment.
“The investment for one solar project is above US billion (US=RM3.44),” he said on the sidelines of the MIDA business seminar held in conjunction with the Sixth World Chamber Congress 2009 here, Wednesday.
Phang said Malaysia has good infrastructure to support the industry.
“We have the raw materials and attractive incentives for companies to set up their operations here,” he said.
On the manufacturing sector, Phang said 194 projects with a proposed investment of US.1 billion had been approved for the first three months of this year.
He was optimistic the country would be able to achieve the annual target investment of RM27.5 billion set under the third Industrial Master Plan.
“With the implementation of the stimulus packages as well as aggressive promotional strategy to attract both foreign and local investors, we are optimistic of achieving the target,” he said.
In 2008, manufacturing projects worth RM62.8 billion were approved compared with RM59.9 billion in 2007.
Source: Bernama