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What has Malaysia planned to gain?

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Malaysia (Commonwealth Union)_ Malaysia is poised to capitalize on the expanding global green hydrogen market, which is projected to reach a staggering US$189.19 billion (RM 824 billion) by 2050, with the implementation of the Hydrogen Economy and Technology Roadmap (HETR). During the National Science Council’s inaugural meeting of the year, Prime Minister Datuk Seri Anwar Ibrahim stated that Malaysia’s portion of this estimated value would amount to US$3.1 billion or 2% by 2030.

Anwar emphasized that the implementation of HETR is estimated to generate substantial revenue of around RM12.1 billion, contributing significantly to the gross domestic product, with estimates ranging between RM49 billion and RM61 billion by 2030. Furthermore, the implementation of HETR is projected to create up to 45,000 job opportunities, providing numerous socioeconomic benefits for the nation. He said, “The HETR implementation is expected to generate up to RM12.1 billion in revenue with an estimated contribution of between RM49 billion and RM61 billion to gross domestic product by 2030”. He added, “Besides, HETR will also be able to provide many socio-economic benefits to the country by generating up to 45,000 job opportunities over the same period”.

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Chang Lih Kang, minister for science, technology, and innovation, read Anwar’s speech to the media. Anwar, who also serves as the finance minister, highlighted the alignment between HETR and Malaysia’s Low Carbon Nation Aspiration 2040, as outlined in the National Energy Policy for 2022-2040. By adopting the proposed HETR implementation model, Malaysia aims to achieve a notable reduction in greenhouse gas emissions ranging from 0.4% to 1.3% by 2030.

This demonstrates the strategic role that HETR plays in facilitating the country’s transition towards a greener and more sustainable energy landscape. To establish Malaysia as a frontrunner in the hydrogen economy by 2050, five strategic thrusts have been outlined. These initiatives are designed to create a robust and competitive hydrogen ecosystem across the value chain. The ultimate objective is to enable the cost-effective production of hydrogen for domestic consumption, thereby supporting the national energy transition target, while also facilitating its exportation.

Anwar further emphasized that HETR’s success relies on capacity-building efforts and the integration of advanced technologies. By fostering collaboration between the private sector, academia, and key entities such as Petroliam Nasional Bhd and Sarawak Energy Bhd, Malaysia aims to develop a comprehensive ecosystem that stimulates industry growth and enhances the nation’s overall capacity in the hydrogen sector. This collaborative approach is vital for commercializing the production of green hydrogen and exploring the supply value chain in Asia, which will address the global demand for clean energy.

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