Universiti Kebangsaan Malaysia (UKM) and Malaysia’s fully integrated oil and gas company are working together to share their expertise, technology and equipment in developing green technology.
The Vice-Chancellor of UKM stated that the collaboration was a great achievement for both parties as it would involve several projects to be undertaken in stages related to hydrogen production through electrolysis technology.
This research is public funding. Thus, the university needs to make sure that every cent received is used properly and can provide something to the country, the Vice-Chancellor stated when delivering a speech at the signing of a Memorandum of Understanding (MoA) between UKM and at the firm in the Council Room, Administrative Building.
It was noted that SMEs have been contributing a lot of expertise in green technology or renewable energy. The appointment of.
It is hoped that the collaboration would provide long-term benefits as well as being a key strategic partner in research, not only in the field of renewable energy but also in various fields at various UKM faculties and institutes.
Meanwhile, Chief Technology Officer and Research and Technology Officer of Petronas Group stated that the collaboration was not a final effort but a preliminary effort for the research.
The selection of SMEs to lead this research is not for political reasons, but the credibility of the university’s lecturers and researchers has convinced us to work together, further achieving our goals.
The firm conducted the research not just for the research but also for commercialization and use by the people. It needs to find strategic partners who can work with it on hydrogen research to commercialize the community. He hopes that the two institutions in the MoA had planned and could carry out successful research.
The UKM’s collaboration with the firm involved several projects to be undertaken in stages related to the production of hydrogen from water sources through electrolysis technology.
The partnership will not only provide green technology for local and global markets but also provide employment opportunities and boost the country’s economy.
Investing in greentech
According to another article, with a new government in power, the country is quickly becoming an attractive investment destination within ASEAN.
The Malaysian Investment Development Authority has reported that the country secured a total of US$11.3 billion in FDI within the first half of 2019 alone.
Experts note that this is a result of attractive tax policies, competitive investment incentives, a highly-skilled workforce, and a booming manufacturing industry.
Overseas investors are also confident of the country’s progress with green technology and Industry 4.0.
Green technology is an area that the country has been focused on to ensure sustainability and competitive agility in the global market.
In fact, the finance ministry has launched the Green Technology Financing Scheme where financial support is provided to accelerate the production and deployment of green technology solutions.
Applicable to various sectors, this has proven to be an opportunity for foreign investors to build partnerships and tap into the incentive-driven revenue opportunities with Malaysian-majority-owned businesses who are eligible for the scheme.
Overall, FDI is expected to continue to grow well into the future. Malaysia will evidently be a more prominent influence in the global marketplace.