Latest news with #PriorityEconomicDeliverables
Barnama
11 hours ago
- Business
- Barnama
ASEAN Poised To Lead Global South In Low-carbon, Sustainable Growth -- Tengku Zafrul
BUSINESS SUBANG JAYA, Aug 16 (Bernama) -- ASEAN can set the benchmark for sustainable growth in the Global South if policies, businesses, and people are aligned towards a low-carbon future, said the Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz. He said that as ASEAN is projected to become the world's fourth-largest economy by 2030, it is important for the region to be more proactive in climate leadership, given its vulnerability to climate risks due to its lengthy 173,000-kilometre coastline. 'Under our ASEAN Chairmanship, Malaysia is pushing for initiatives that make sustainability a collective and financially viable goal,' he said. Tengku Zafrul said this in his keynote address at the Economic and Leadership Forum (ELF) here today. "Our vision is to transform ASEAN into a global hub for green investment and technology. 'This is why we are championing Priority Economic Deliverables, covering important objectives such as sustainable investments, green financing and capital, an ASEAN Electric Vehicles roadmap, green transition for micro, small and medium enterprises, and positioning ASEAN as a sustainable minerals investment destination," he said. He also expressed hope that these deliverables would be translated into domestic policies that reduce risk for investors, accelerate technology adoption, and ensure that sustainability generates viable returns. "If we can move first – if Malaysia and ASEAN can make the green transition ahead of our global competitors – we can secure leadership and attract capital in sustainable investments, manufacturing and trade. "We can build not just products but also the 'people-planet-profit' trust and credibility," he explained.
New Straits Times
16-06-2025
- Business
- New Straits Times
Asean-SOME: Malaysia reaffirms firm commitment to regional energy cooperation
KUCHING: Malaysia reaffirmed its firm commitment to driving regional energy cooperation with a focus on inclusivity and sustainability, as it chaired the 43rd Senior Officials Meeting on Energy (SOME) held here today. Energy Transition and Water Transformation Ministry secretary-general Datuk Mad Zaidi Mohd Karli, stated that the theme for Malaysia's energy sector engagements, "Powering Asean: Bridging Boundaries, Building Prosperity," reflects the broader vision of Malaysia's Asean Chairmanship. "This theme is important to emphasise the need for energy and dynamism in driving the region's development to propel ASEAN forward. "It also reflects the ultimate goal of Asean integration, which is to improve the lives of its citizens by promoting economic growth, creating jobs and focusing on inclusivity and sustainability that will benefit all segments of society," he said in his opening remarks at the meeting. He also expressed confidence that today's discussions would deliver tangible progress aligned with Malaysia's Priority Economic Deliverables and Asean's 2025 priorities, particularly on key initiatives such as the Asean Power Grid Memorandum of Understanding and the Terms of Reference for the Subsea Power Cable Development Framework. "These collaborative efforts will certainly lay the groundwork for the 43rd Asean Ministers on Energy Meeting (AMEM), which will be hosted in Kuala Lumpur," he added. The 43rd Asean-SOME and its associated meetings began today and will run until June 18, drawing around 250 delegates, including senior energy officials and representatives from the Asean Secretariat and the Asean Centre for Energy. All 10 Asean member states, namely Malaysia, Brunei Darussalam, Cambodia, Indonesia, Laos, Myanmar, the Philippines, Singapore, Thailand, and Vietnam, are participating, with Timor-Leste attending as an observer. They are joined by dialogue partners China, South Korea, Japan, Russia and the United States, along with representatives from the International Renewable Energy Agency, International Energy Agency, Economic Research Institute for Asean and East Asia, Asian Development Bank and the World Bank.
Barnama
16-06-2025
- Business
- Barnama
ASEAN-SOME: Malaysia Reaffirms Firm Commitment To Regional Energy Cooperation
Secretary-General of the Ministry of Energy Transition and Water Transformation (PETRA), Datuk Mad Zaidi Mohd Karli (eighth, left) with senior energy officials and representatives from the ASEAN Secretariat and the ASEAN Centre for Energy in a group photo during the 43rd Senior Officials Meeting on Energy (SOME) and its associated meetings today. -- fotoBERNAMA (2025) COPYRIGHT RESERVED KUCHING, June 16 (Bernama) -- Malaysia reaffirmed its firm commitment to driving regional energy cooperation with a focus on inclusivity and sustainability, as it chaired the 43rd Senior Officials Meeting on Energy (SOME) held here today. Secretary General of the Ministry of Energy Transition and Water Transformation (PETRA), Datuk Mad Zaidi Mohd Karli, stated that the theme for Malaysia's energy sector engagements, 'Powering ASEAN: Bridging Boundaries, Building Prosperity,' reflects the broader vision of Malaysia's ASEAN Chairmanship. "This theme is important to emphasise the need for energy and dynamism in driving the region's development to propel ASEAN forward. "It also reflects the ultimate goal of ASEAN integration, which is to improve the lives of its citizens by promoting economic growth, creating jobs and focusing on inclusivity and sustainability that will benefit all segments of society," he said in his opening remarks at the meeting. He also expressed confidence that today's discussions would deliver tangible progress aligned with Malaysia's Priority Economic Deliverables and ASEAN's 2025 priorities, particularly on key initiatives such as the ASEAN Power Grid Memorandum of Understanding and the Terms of Reference for the Subsea Power Cable Development Framework. 'These collaborative efforts will certainly lay the groundwork for the 43rd ASEAN Ministers on Energy Meeting (AMEM), which will be hosted in Kuala Lumpur,' he added. The 43rd ASEAN-SOME and its associated meetings began today and will run until June 18, drawing around 250 delegates, including senior energy officials and representatives from the ASEAN Secretariat and the ASEAN Centre for Energy. All 10 ASEAN member states, namely Malaysia, Brunei Darussalam, Cambodia, Indonesia, Laos, Myanmar, the Philippines, Singapore, Thailand, and Vietnam, are participating, with Timor-Leste attending as an observer. They are joined by dialogue partners China, South Korea, Japan, Russia and the United States, along with representatives from the International Renewable Energy Agency, International Energy Agency, Economic Research Institute for ASEAN and East Asia, Asian Development Bank and the World Bank.
New Straits Times
27-05-2025
- Business
- New Straits Times
Asean 2045: Govt to enhance scope of regional energy cooperation
PUTRAJAYA: The Energy Transition and Water Transformation Ministry has voiced its full support for the Kuala Lumpur Declaration on Aseab 2045: Our Shared Future, calling it a pivotal step towards realising the Asean Economic Community Strategic Plan. Deputy Prime Minister Datuk Seri Fadillah Yusof, who is also in charge of ministry, said the ministry is committed to enhancing regional energy cooperation by finalising strategic frameworks and action plans under the Priority Economic Deliverables (PED), aimed at fostering a just and structured energy transition. He said among key initiatives undertaken to reach the goals is the upcoming Asean Plan of Action for Energy Cooperation (APAEC) 2026–2030, which will serve as the framework for long-term regional energy strategies towards a resilient, inclusive, and sustainable energy system across Asean by 2045. Fadillah also underscored the importance of advancing the Asean Power Grid (APG) through the implementation of a Memorandum of Cooperation, which will facilitate interconnectivity between member states' electricity grids. "This will accelerate regional grid integration and enable broader adoption of clean energy sources and pave the way for cross-border power trading and greater use of renewable energy," he said in a statement today. Fadillah said two other regional agreements, namely the Trans Asean Gas Pipeline Agreement (TAGP) and the Asean Petroleum Security Agreement (APSA), will serve as foundational frameworks to ensure secure and reliable supply chains of natural gas and petroleum, which are essential for supporting a phased transition to low-carbon energy systems, especially in power generation. "Through these initiatives, the ministry is committed to supporting the Kuala Lumpur Declaration of Asean 2045, including efforts to position energy transition as a strategic pillar in building a more sustainable, inclusive, and resilient Asean Economic Community. "This commitment aligns with Malaysia Madani, the national development framework that champions sustainability, well-being, and innovation. "It also strengthens regional collaboration for the shared benefit of all Asean communities," he said. Yesterday, Asean leaders adopted the Kuala Lumpur Declaration on Asean 2045: Our Shared Future, which set the foundation to guide the region's development and cooperation over the next two decades. The declaration, endorsed during the 46th Asean Summit here, represents a significant milestone in the bloc's commitment to building a more resilient, innovative, dynamic and people-centred regional community. According to the Declaration, Asean member states reaffirmed their collective resolve to enhance regional unity, promote inclusive and sustainable development and strengthen institutional capacity to respond effectively to existing and future megatrends. The document also envisions Asean as the epicentre of growth in the Indo-Pacific region, with a strong emphasis on regional solidarity, a shared identity and equitable access to economic opportunities among its people. – Benama
Barnama
27-05-2025
- Business
- Barnama
ASEAN 2045: PETRA To Enhance Scope Of Regional Energy Cooperation
Deputy Prime Minister who is also Energy Transition and Water Transformation Minister Datuk Seri Fadillah Yusof PUTRAJAYA, May 27 (Bernama) -- The Ministry of Energy Transition and Water Transformation (PETRA) has voiced its full support for the Kuala Lumpur Declaration on ASEAN 2045: Our Shared Future, calling it a pivotal step towards realising the ASEAN Economic Community Strategic Plan. Deputy Prime Minister Datuk Seri Fadillah Yusof, who is also in charge of PETRA, said the ministry is committed to enhancing regional energy cooperation by finalising strategic frameworks and action plans under the Priority Economic Deliverables (PED), aimed at fostering a just and structured energy transition. He said among key initiatives undertaken to reach the goals is the upcoming ASEAN Plan of Action for Energy Cooperation (APAEC) 2026–2030, which will serve as the framework for long-term regional energy strategies towards a resilient, inclusive, and sustainable energy system across ASEAN by 2045. Fadillah also underscored the importance of advancing the ASEAN Power Grid (APG) through the implementation of a Memorandum of Cooperation, which will facilitate interconnectivity between member states' electricity grids. 'This will accelerate regional grid integration and enable broader adoption of clean energy sources and pave the way for cross-border power trading and greater use of renewable energy,' he said in a statement today. Fadillah said two other regional agreements, namely the Trans ASEAN Gas Pipeline Agreement (TAGP) and the ASEAN Petroleum Security Agreement (APSA), will serve as foundational frameworks to ensure secure and reliable supply chains of natural gas and petroleum, which are essential for supporting a phased transition to low-carbon energy systems, especially in power generation. 'Through these initiatives, PETRA is committed to supporting the Kuala Lumpur Declaration of ASEAN 2045, including efforts to position energy transition as a strategic pillar in building a more sustainable, inclusive, and resilient ASEAN Economic Community. 'This commitment aligns with Malaysia MADANI, the national development framework that champions sustainability, well-being, and innovation. It also strengthens regional collaboration for the shared benefit of all ASEAN communities,' he said. Yesterday, ASEAN leaders adopted the Kuala Lumpur Declaration on ASEAN 2045: Our Shared Future, which set the foundation to guide the region's development and cooperation over the next two decades.
