Virtual IGEM 2020 garnered RM3.4 billion business leads

KUALA LUMPUR – The Ministry of Environment and Water (KASA) yesterday announced impressive gains from the successful 11th International Greentech & Eco Products Exhibition & Conference Malaysia (IGEM 2020), the first virtual edition held in October 2020, solidifying IGEM’s role as South East Asia’s most powerful, green technology, business and innovation platform.

Furthermore, themed ‘Energizing Sustainability”, IGEM 2020 delivered beyond two-fold target business leads of RM1.6 billion, achieving a pipeline of RM3.4 billion investment interest.

These leads have been computed from the RM3.08 billion potential investments from 64 projects recorded by the Malaysian Investment Development Authority (MIDA) and RM339 million in potential exports recorded by the Malaysia External Trade Development Corporation (MATRADE), during MATRADE’s International Sourcing Program (INSP).

Moreover, the IGEM 2020 Virtual platform which featured 161 exhibitors registered more than 15,000 visitations from 79 countries and clocked up to 10,000 participants engaging in the 55 conference sessions and 77 pocket talks, through the event from 19 to 23 October 2020.

Yang Berhormat Dato’ Sri Tuan Ibrahim Tuan Man, Minister of Environment and Water said, “It is indeed a commendable feat that IGEM 2020 has surpassed its targets, despite being held virtually for the very first time and against a backdrop of global economic uncertainty. This reinforces KASA’s commitment to expanding drive and growth of the green technology sector as an important engine in developing Malaysia’s economy.”

“As we continue to recover and build, I urge budding green entrepreneurs and key industry leaders to explore how we can work together and further build partnerships for a greener and sustainable economy in the year 2021,” he added.

Given the success of virtual IGEM 2020, the Minister announced that IGEM 2021 will take on the virtual platform again in catalyzing growth in the national, regional and global green economy. IGEM 2021 may run over for months to create more value and opportunities for its exhibitors and visitors.

Besides that, targeting RM2 billion in the business lead with 200 exhibitor booths and over 10,000 visitors from 20 countries this year, IGEM 2021 will also see the reaffirmation of investment strategic partner, MIDA and business-matching partner, MATRADE to organize the much-in-demand business matching sessions for the twelfth consecutive year.

Dato’ Azman Mahmud, Chief Executive Officer of MIDA said, “We are indeed proud that the targeted RM1.6 billion business leads for IGEM 2020 have been reinforced with a new projection of RM3.08 billion investment in Renewable Energy (RE), Energy Efficiency (EE), Solar Leasing, Integrated Waste Management, Green Building and manufacturing sectors.”

“The Renewable Energy segment for waste management has gained the highest investment leads of RM1.75 billion (57%), followed by RM814 million (26%) interest in Renewable Energy for mini-hydro,” he added.

“Starting from 2016 until September 2020, MIDA has approved 1,317 green technology projects with investments amounting to RM18.55 billion, as well as 63 specialized green service companies with a total proposed operational expenditure of RM318.51 million, under the incentives of Green Technology. This exuberant indicator points to potentially stronger investment flow in the areas of green technology within our country,“ he said.

Additionally, IGEM 2021 Virtual will be co-organized by the Malaysian Green Technology and Climate Change Centre (MGTC), the lead agency for KASA in charge of developing and implementing new programmes on green growth, climate change mitigation and climate change adaption, in line with the nation’s green agenda.