KUALA LUMPUR: The Malaysian Investment Development Authority (MIDA) and the Malaysian Plastics Manufacturers Association (MPMA) are working closely to drive industry collaboration and understand the demand and supply of recycled plastic resources, which are crucial for many industry players in their decarbonisation efforts.
MIDA said in a statement that the ongoing collaboration between MIDA and MPMA is set to continue driving Malaysia’s advancements in the plastics industry, ensuring sustained progress and innovation.
MIDA Chief Executive Officer Sikh Shamsul Ibrahim Sikh Abdul Majid said the growth and transformation of the plastics industry in Malaysia are remarkable, showcasing the nation’s commitment to innovation and sustainability.
“As we advance towards a circular economy, we see a significant increase in recycling activities, creating new markets for advanced recycling technologies.
“Our continued progress in this sector is a testament to Malaysia’s dedication to environmental stewardship and economic growth. Malaysia is committed to achieving net zero carbon by 2050,” he said in the statement.
Meanwhile, MPMA president CC Cheah said the main challenge facing the industry is that most of the plastics are disposed of after use.
“MPMA has recently proposed a Plastics Neutrality Masterplan which provides thought leadership to drive towards zero plastics to landfills by 2050. In Malaysia, achieving plastic circularity and neutrality poses several formidable challenges.
“The masterplan addresses the challenges by promoting a multi-faceted approach, involving policy reforms, investments in infrastructure, public education campaigns and collaboration among stakeholders across the plastics value chain,” he said.
Cheah also said that the master plan reinforces the industry’s commitment to address concerns related to plastics, by making plastics circular, driving lifecycle emissions to net zero, and fostering the sustainable use of plastics.
MIDA and MPMA are co-organising the MIDA-MPMA Conference on Government Facilitation and Assistance for a Circular and Low Carbon Economy at Avante Hotel, Petaling Jaya.
With almost 100 participants, the one-day conference was successfully organised to provide insight into various government policies, facilitations and assistance for the manufacturing sector, specifically the plastics industry.
The conference featured sessions by speakers from the Ministry of Investment, Trade and Industry (MITI), Ministry of Economy, MIDA, Malaysia External Trade Development Corporation (MATRADE), Bursa Carbon Exchange, Alliance Bank and Argus Media.
— BERNAMA
