IPEF Offers US$23B Potential Infra Projects Under Clean Economy Agreement, Says Tengku Zafrul

The Indo-Pacific Economic Framework (IPEF) marks a significant step in economic cooperation and development among countries in the Indo-Pacific region.

Under the leadership of the United States, IPEF has successfully attracted the attention of partner countries to collaborate in various areas including infrastructure, clean economy, and enhancing fairness in trade and investment.

Minister of Investment, Trade and Industry Tengku Zafrul Abdul Aziz, joined the IPEF Ministers’ Meeting ini Singapore today and the first Clean Economic Investment Forum of IPEF.

At the meeting, three important agreements were signed, including the main IPEF Agreement, the Clean Economic Agreement, and the Fair Economic Agreement.

The IPEF Clean Economic Agreement aims to advance regional cooperation in accelerating the adoption of clean energy technologies, promoting carbon market activities, and enhancing sustainability in transportation. In the simultaneous Clean Economic Investment Forum, more than USD23 billion worth of infrastructure projects have been identified, including existing projects that have been presented to investors.

Malaysia, through various entities such as Khazanah, PETRONAS, and local companies, actively participated in the forum, demonstrating their commitment to the economic development and sustainability of the region.

Additionally, the IPEF Fair Economic Agreement establishes commitments to strengthen anti-corruption measures and tax initiatives to enhance trade and investment, and promote a fair and transparent business environment.

With the ratification of the IPEF Supply Chain Resilience Agreement, Malaysia has taken a significant step in strengthening supply chain resilience, aligning with the country’s economic and industrial development strategies such as the National Semiconductor Strategy, the 2030 New Industrial Master Plan, and the Energy Transition Roadmap.

Minister Zafrul also emphasised the synergy between IPEF initiatives and Malaysia’s economic policies, and offered cooperation with the Malaysian Anti-Corruption Academy in combating corruption and enhancing transparency in business.

Overall, Malaysia’s participation in IPEF promises various opportunities for sustainable economic development and stability in the Indo-Pacific region.

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