IGEM 2022 targets RM3 billion in investment prospects

About RM3 billion in green technology and sustainability-led investment prospects is the target that the government seeks to secure at the upcoming International Greentech and Eco Products Exhibition and Conference Malaysia (IGEM) 2022 that is scheduled to be held from 12-14 October 2022 at the Kuala Lumpur Convention Centre.

Stressing that the target is RM1 billion up from RM2 billion targeted for last year’s IGEM 2021, Environment and Water Minister YB Datuk Seri Tuan Ibrahim Tuan Man said the Malaysia Green Technology and Climate Change Corporation (MGTC), which co-organises the conference with the Ministry of Environment and Water (KASA), tends to achieve much higher investment potential than the targets they set each year.

“Since this is the first time we are holding the event physically following the COVID-19 pandemic, we have set a target of RM3 billon and I am fully confident that this can be generated from IGEM 2022,” he said in his speech during the pre-launch of IGEM 2022 on 22 July 2022.

From the RM2 billion targeted at IGEM 2021, about RM4.6 billion worth of business prospects were generated, more than the RM3.4 billion achieved at IGEM 2020, which was the first time the conference was held virtually.

The gathering this year, which is expected to attract about 30,000 visitors, will feature 300 exhibition participants and bring together representatives from 30 countries, including Canada, Belgium and Taiwan.

This is the 13th edition of the IGEM, which has been held annually since 2010 and has to date recorded investment prospects amounting to RM30 billion, and catered to over 500,000 registered visitors from 70 countries.

The theme for the event this year is “Race Towards Net Zero: Fulfilling Sustainable Development Goals (SDG) & Environmental, Social, and Corporate Governance (ESG) Commitments”, which coincides with the government’s aspiration to achieve net zero carbon by as early as 2050.

“I would say by 2050 at the earliest because the government needs to evaluate the country’s capability and preparedness to achieve that aspiration,” said the Minister who added that KASA has appointed a consultant to help identify the strategies and resources needed to achieve the 2050 goal.

Speaking at a press conference after the pre-launch of IGEM 2022, the Minister said this year’s theme also emphasised the aspect of fulfilling the ESG commitment by the private sector to jointly curb global warming and climate change. The conventional business concept needed some innovations so as to be more environmentally friendly and support the national and global climate change agendas.

He said IGEM 2022 would see presenters such as Noble Peace Prize winners, economists and industry players share their thoughts on sustainable development initiatives based on the SDGs and ESG. The event will focus on four main topics, namely empowering cities; electrifying mobility; decarbonising energy and accelerating circularity.

Datuk Seri Tuan Ibrahim said KASA also welcomed participation and cooperation from all quarters who were keen to learn about the latest developments in green technology. The Malaysian Investment Development Authority (MIDA) will provide consultation to companies keen to invest in Malaysia, while the Malaysia External Trade Development Corporation (MATRADE) will facilitate local companies interested in exporting their products abroad.

Besides exhibitions and conferences that focus on local innovation and initiatives, the three-day event will also feature experts from various industries, including government representatives, technology leaders, pioneers, academics and entrepreneurs who will contribute and share their respective experiences.

MGTC Chief Executive Officer Shamsul Bahar Mohd Nor in his opening remarks said a total of 109 companies have shown interest in participating in IGEM 2022 so far, besides having received sponsorship confirmation from three well-known companies.

He is confident that the pre-launch will attract more exhibitors and sponsors for the upcoming IGEM 2022, which has established itself as Southeast Asia’s largest trade event for green technologies and eco solutions. YAB Prime Minister Datuk Seri Ismail Sabri Yaakob is expected to officiate the event.