New Economic Model Proposes Malaysia Lead Global Green Revolution

Bernama 30 Mar 10;

KUALA LUMPUR, March 30 (Bernama) -- Malaysia, one of the top 17 mega-biologically diverse countries in the world, should embrace a leadership role in green technology, proposes the New Economic Model (NEM) Report Part 1.

It says the country, which has rainforests covering 60 per cent of its landmass, should become a strategic niche player in high-value green industries and services that play to its competitive advantages.

The report, released today by the National Economic Advisory Council (NEAC), says that building on Malaysia's natural resources and biodiversity is central to strengthening the comparative advantages.

"Having such a precious natural heritage is important not only for Malaysia but also the world. Preserving the natural rain forests and marine reefs plays a significant role in the global carbon mitigation strategy," it says.

It says that these natural resources, if properly managed and preserved, have the capacity to reduce the world's carbon emission and help offset the impact of environmental deterioration on sustainable living.

It warns that if mismanaged, Malaysia could face not only irreparable environmental damage but also global sanctions that could have significant economic impact on its future exports and income.

Recalling that Malaysia has already made significant commitments in Copenhagen to deliver a 40 per cent reduction in carbon dioxide emissions by 2020 (compared to 2005), it says this is a major challenge for the economy.

The report also says that the global focus on environmental considerations will result in large shifts in demand for commodities and manufactured goods, to which Malaysia can adapt and is well positioned to anticipate, deliver and lead, and suggests that Malaysia create clusters of research and development to exploit these leads.

"The commercialisation of our natural biodiversity into high-value products and services will be a major national challenge. But is also an excellent avenue for partnership between the private and the public sectors.

"The major benefit of our green, high income, and inclusive strategy is that future generations of Malaysians (and world citizens) will continue to enjoy the clean air and water, and natural environment that they deserve and work so hard to preserve and enhance," it says.

-- BERNAMA