The government is taking significant steps to ensure sustainable growth with plans set for the reduction of carbon emissions in the country by 40 per cent in 2020, said Deputy Minister of International Trade and Industry, Datuk Mukhriz Tun Mahathir.
It has set stronger policies and actions towards combating climate change to introduce cleaner, safer and friendlier technologies, he said.
“We are assessing and reassessing any and all appropriated measures that are possible to optimise efficiency and sustainability while minimising unhealthy and environmentally damaging emissions and practices.
“To achieve it we emphasize four key strategies, reinvigorating private investment, intensifying human capital development, enhancing quality of life for the people and strengthening public service delivery,” he said when officiating the launching of the newly assembled BMWX1 at BWM facility, Inokom Corporation Plant, here Tuesday.
Amongst the key government initiatives in the area include the extension of Pioneer Status and Investment Tax Allowances for the generation of energy from renewable sources and energy efficiency activities up till Dec 31, 2015.
There is also exemption of import duty and sales tax on equipment for the generation of energy from renewable and or efficient sources till Dec 31, 2012, the exemption of tax on income derived from trading of Certified Emission Reductions certificates until the assessment year 2012, as well as incentives for franchise holders of hybrid cars and hybrid electronic motorcycles till end of next year, he said.
Five new manufacturers’ licenses have been also introduced to encourage greater investment into the car industry by foreign producers.
The issue of new licenses for manufacturers will create a unique opportunity to develop Malaysia as a regional hub for Advanced and Environmentally Friendly Automotive Technology, he said.
It would encourage the use of clean and green technology such as Advanced Diesel Technology and Hybrid Technology domestically.
Meanwhile, on BMW’s green efforts, he said: “I’m enthused to see a multinational corporation like BMW taking proactive measures towards introducing and improving the level of sustainable technologies in Malaysia which will contribute significantly to the preservation of our resources and the environment.”
He also called on more companies to follow BMW’s path to further encourage the growth and introduction of sustainable green technologies and alternatives in Malaysia.
Also present at the launch were BMW Managing Director of Malaysia, Geoffrey Briscoe, Deputy Head of Mission from the German Embassy, Dr Micheal Feiner and Sime Darby Motor Division Managing Director, Simon Rock.
