“In our pursuit of sustainable manufacturing and achieving the National Industrial Master Plan (NIMP) 2030, we are actively exploring avenues to foster innovative public-private partnerships, particularly between government-linked investment companies (GLICs) and global investors, with a strong emphasis on technology that supports sustainable manufacturing and net-zero supply chains,” stated Investment, Trade and Industry Minister (Miti) Tengku Datuk Seri Zafrul Tengku Abdul Aziz.
Tengku Zafrul elaborated on this strategy, explaining, “Our manufacturing sector’s future success is intricately tied to Malaysia’s ability to forge effective collaborations among crucial stakeholders. This encompasses core supply chain partners spanning diverse industries, complementary entities, and public sector participants, including government-linked companies (GLCs) and GLICs.” He made these remarks at The Cooler Earth Sustainability Summit 2023, which was hosted by CIMB Group Holdings Bhd.
While promoting these fresh frameworks for public-private cooperation, the government is also committed to ensuring that small and medium-sized enterprises (SMEs) have opportunities to enhance their environmental, social, and governance (ESG) practices. Tengku Zafrul assured, “To ensure inclusivity, our i-ESG framework will serve as a comprehensive guideline for the manufacturing sector, particularly SMEs, to embrace ESG principles. It will assist them in adhering to standards, enhancing their capabilities, securing financing, and accessing market mechanisms. Each of these will be accompanied by its own transition programs.”
Furthermore, the i-ESG framework will be harmonised with the Securities Commission’s Simplified ESG Disclosure Guide (SEDG) designed for SMEs. This guide is aimed at facilitating SMEs in embracing sustainability and addressing disclosure requests from various stakeholders, including customers, investors, banks, and regulatory authorities, as explained by the minister.
Tengku Zafrul emphasised the significance of these comprehensive efforts in ensuring that SMEs can continue to participate in ESG-sensitive markets and become integral components of ESG-oriented vendor networks. He expressed, “I firmly believe that I have provided ample insight into Miti’s commitment to institutionalising sustainable manufacturing in our nation, especially through the NIMP 2030. What is absolutely critical now is execution and speed!”
He urged those with the requisite capabilities to support these endeavors, stating, “We need your assistance in guaranteeing supply chain security and resilience, as these are indispensable to sustainable manufacturing. We also rely on your backing for the rapid adoption of technology and digitisation in smart manufacturing to fulfill our sustainable manufacturing objectives. Catalytic, intelligent public-private partnerships are pivotal to execution and in propelling the ESG agenda forward in sustainable manufacturing.”
NIMP 2030, launched by Prime Minister Datuk Seri Anwar Ibrahim earlier in the month, centers on cultivating higher economic complexity and aggressively embracing technology, all underpinned by principles of sustainability and inclusivity.
