KUALA LUMPUR: Top Swedish companies that have been investing in Malaysia’s industrial development since the nation achieved its independence are now contributing their expertise to the country’s transition to a green economy by focusing on the sustainability agenda.
This collaboration aligns with both nations’ commitment to environmental protection, forming the core for enhanced trade and investment linkages, said Sweden’s ambassador to Malaysia, Niklas Wiberg.
Wiberg noted that Malaysia’s policy shift toward a green economy is expected to attract more foreign investors, especially Swedish firms with expertise in renewable energy and circular economy practices.
He highlighted the significant contributions by Swedish firms in Malaysia toward RE and innovative solutions, with sectors like green energy and telecommunications offering more opportunities for Swedish investment in sustainable initiatives.
“Swedish companies drive the grid transition here in Malaysia through RE and energy innovations, and promoting circular economy practices in a very clear way,” he told Bernama.
Wiberg officially began his tenure as Sweden’s ambassador to Malaysia on Aug 15, 2024, succeeding Dr Joachim Bergstrom.
Promoting sustainable practices
Wiberg said leading Swedish companies, such as Atlas Copco (energy solutions), Alfa Laval (water and waste treatment), SKF (automotive and industrial engineering) and Sandvik (multinational engineering) have incorporated sustainable practices in their Malaysian operations, with a focus on RE and innovative energy solutions.
Volvo Car and Scania, operating in Malaysia since 1967, are also focusing on green mobility by producing electric and hybrid vehicles and promoting biofuels.
“Similarly, retail giant IKEA integrates sustainability into its operations, offering energy-efficient products, including their renowned furniture, using RE,” he said.
Swedish telecommunications leader Ericsson is also making strides, partnering Digital Nasional Bhd (DNB) to develop Malaysia’s fifth generation (5G) network while prioritising energy efficiency.
“DNB and Ericsson’s collaboration in rolling out one of the world’s best 5G networks in record time is incredibly impressive.
“I think a lot of governments are looking at the Malaysian model with great interest,”
On electric vehicles (EVs), he said in Sweden and other countries he has served, the tipping point for increasing EV usage was having strong supporting infrastructure.
This includes vehicle charging facilities at workplaces and homes, enabling consumers “to go electric if they wish to do so.”
He said Sweden also offers subsidies for electric cars, trucks and buses.
To support Malaysia’s green goals, the Swedish Embassy and Business Sweden introduced the “Pioneer the Possible” platform in 2023, showcasing Swedish innovations in sustainable practices.
“Through this platform, we have continued to make significant progress by building partnerships with our partners here in Malaysia, focusing on sustainable innovation and resource efficiency.”
Stronger partnerships with Malaysia
As Sweden’s envoy to Malaysia, Wiberg said his mission is to strengthen these partnerships and explore new opportunities for joint initiatives, in line with the common sustainability goals and efforts for a greener future in Malaysia, as well as for the wider region.
He noted that Malaysia has ambitious plans when it comes to digital and green transition, as evidenced by the National Energy Transition Roadmap, New Industrial Master Plan2030 and the Malaysia Digital Economy Blueprint.
He said Malaysia has not only clinched free trade agreements with regional economies, but also expanded trade and investment with countries outside the region.
There are also government incentives to invest in Malaysia, particularly in the technology and green energy sectors.
“An even stronger demand for sustainable products goes a long way towards making Malaysia an appealing destination for Swedish firms,” said Wiberg.
As such, he said Sweden hopes to build further on the sustainability agenda and provide the competency that Malaysia is keen to acquire, based on the areas identified in the government’s national development plans.
China-EU rivalry in EV industry
“China is also making great electric cars, but it’s essential to foster initiatives for a truly competitive market,” said Wiberg, stressing the need for fair practices that encourage innovation while promoting sustainability.
Along with the United States and Canada, the European Union has imposed countervailing duties on imports of battery EVs from China after its investigation concluded that the EV value chain in China benefits from unfair subsidisation.
“Sweden always supports a competitive market that is fair to producers and consumers,” he said.
Wiberg highlighted that the automotive sector is going through a pivotal transformation, adding that Swedish automakers are rapidly advancing towards full electrification, with ambitious plans to produce nearly 100% EVs by 2030. — Bernama
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Publish date : 2024-10-31 14:29:00
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The post Swedish firms support Malaysia’s green transition first appeared on Love Europe.
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Publish date : 2024-10-31 21:33:58
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