PETALING JAYA: Malaysia will continue to target high-quality advanced technology-oriented investments in new growth areas that also focus on long-term sustainability that is compatible with the environmental, social and governance (ESG) goals.

       Senior Minister and the Minister of International Trade and Industry Datuk Seri Mohamed Azmin Ali (pic) said new investments that are anchored upon these elements would propel growth in the technologically sophisticated sectors.

       “As encapsulated in the 12th Malaysia Plan (12MP), particular emphasis is given to ESG elements as the new licence for business to operate since there is increasingly no alternative with both consumers and investors demanding it.

       “ESG will map how business can be a catalyst for addressing our climate crisis, and the challenges and opportunities that the climate change economy presents,” he said in a pre-recorded special address at the Invest Malaysia 2021 Virtual Series 1 yesterday.

       He said with Malaysia’s strong economic fundamentals, the government is confident in the prospect of sustainable recovery, equitable economic growth and shared prosperity.

       “We are determined to achieve all this through collaboration, partnership and a spirit of optimism that envisions, not just Malaysia or Asean but the whole world, heading together toward a brighter future,” he said.

       Mohamed Azmin said the government would also continue to strengthen the country’s economic fundamentals through the implementation of open, transparent, and business-friendly trade and investment policies.

       He said this included the ongoing efforts by the government to ratify the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the Regional Comprehensive Economic Cooperation Agreement.

       “Like all the others the world over, our economy has been battered by the onslaught of the Covid-19 pandemic.

       “Our Bursa (Malaysia) has gone through thick and thin but, as they say, we have taken the beating on the chin and, at final count, we remain standing.

       “That is undoubtedly an achievement,” he said. ― Bernama