PM: Malaysia confident of energy surplus for economic growth

Malaysia’s Prime Minister Anwar Ibrahim has expressed confidence in the country’s ability to generate enough energy surplus to support both major development projects and increased exports.

This announcement comes as Malaysia and Singapore seek to finalise a deal by the end of the year to establish a special economic zone (SEZ) in Johor state.

Anwar emphasised the government’s commitment to renewable energy and achieving net-zero emissions by 2050. The focus remains on projects like the Johor-Singapore SEZ.

He stated that the combination of energy-focused projects across Malaysia would ensure a surplus of energy, enabling the country to power developments such as the SEZ and expand energy exports.

Johor state, located just north of Singapore, has witnessed a surge in energy demand due to significant investments in data centre facilities by tech giants like Nvidia and ByteDance.

These investments have contributed to Malaysia’s robust economic performance this year, with growth surpassing expectations in the past two quarters and the stock market outperforming other regional markets.

Attribution: Reuters

Subediting: M. S. Salama