Swedish companies support Malaysia’s green transition with sustainable investment – Ambassador

KUALA LUMPUR: Leading Swedish companies that have invested in Malaysia’s industrial development since the country achieved independence are lending their expertise in the country’s green economic transition with a focus on the sustainability agenda.

This cooperation is in line with both countries’ commitment to environmental protection, forming the core to strengthen trade and investment relations between the two countries, said the Swedish Ambassador to Malaysia, Niklas Wiberg.

Wiberg said Malaysia’s policy shift towards a green economy is expected to attract more foreign investors, especially Swedish firms with expertise in renewable energy (RE) and circular economy practices.

He said Swedish firms in Malaysia make important contributions to the country’s RE and innovative solutions, adding that sectors such as green energy and telecommunications offer investment opportunities for Swedish companies in sustainable practices.

“Swedish companies are driving the grid transition here in Malaysia through RE and energy innovation and promoting circular economy practices in a very clear way,” he told Bernama in an exclusive interview following the start of his service as Ambassador to Malaysia.

Wiberg officially started his service as Ambassador of Sweden to Malaysia on 15 August 2024, replacing Dr. Joachim Bergstrom, and presented his credentials to the Yang di-Pertuan Agong Sultan Ibrahim on 21 Oct 2024.

Swedish firms encourage sustainable practices

Wiberg said major Swedish companies, such as Atlas Copco (energy solutions), Alfa Laval (water and waste treatment), SKF (automotive and industrial engineering), and Sandvik (multinational engineering), have incorporated sustainable practices in their operations in Malaysia, with a focus on RE and innovative energy solutions.

Automotive giants Volvo and Scania, which have operated in Malaysia since 1967, are also focusing on green mobility, producing electric vehicles (EVs) and hybrids, and promoting biofuels.

“Similarly, retail giant IKEA integrates sustainability into its operations, offering energy-efficient products, including their famous furniture using RE,” he said.

The Swedish telecommunications leader, Ericsson, is also taking steps to collaborate with Digital Nasional Bhd (DNB) to develop Malaysia’s 5G network while prioritizing energy efficiency in the telecommunications sector.

“The collaboration between DNB and Ericsson to launch one of the world’s best 5G networks in a short time is amazing. I think many countries are showing interest in the Malaysian model,” he said.

Regarding electric vehicles (EVs), he said that in Sweden and the countries he has served, the starting point for increasing the use of EVs is to provide a strong supporting infrastructure.

“This includes vehicle charging facilities at work and at home to allow consumers to “use electric vehicles if they want to do so,” Wiberg said, adding that Sweden provides subsidies for electric cars, trucks, and buses.

To support Malaysia’s green goals, the Swedish Embassy and Swedish Business in 2023 have introduced the “Pioneer the Possible” platform, highlighting Swedish innovation in sustainable practices.

“Through this platform, we continue to make significant progress by building partnerships with our partners in Malaysia, focusing on sustainable innovation and resource efficiency,” he said.

Strengthen partnerships to achieve a greener future in Malaysia

According to Wiberg, as Ambassador to Malaysia, his mission is to strengthen this green partnership and explore new opportunities for joint initiatives in line with sustainability goals and efforts to ensure a greener future in Malaysia and the entire region.

He said Malaysia has big plans in the digital and green transition, as evidenced by the National Energy Transition Roadmap (NETR), the New Industrial Master Plan (NIMP) 2030 and the Malaysian Digital Economy Action Plan.

According to him, Malaysia not only reached free trade agreements with regional economies but also expanded trade and investment with countries outside the region.

There are also incentives from the government to invest in Malaysia, especially in the technology and green energy sectors.

“Stronger demand for sustainable products makes Malaysia an attractive destination for Swedish companies,” said Wiberg.

Thus, he said Sweden hopes to continue the sustainability agenda and provide the efficiency that Malaysia wants based on the areas identified in the government’s national development plan.

Competition between China and the European Union in the EV industry

“China also produces great electric cars, but it is important to provide initiatives for a truly competitive market,” said Wiberg, emphasizing the need to implement fair practices that encourage innovation while promoting sustainability.

Along with the United States and Canada, the European Union has imposed retaliatory duties on battery electric vehicle (BEV) imports from China after its investigation concluded that the EV value chain in China is benefiting from unfair subsidies.

“Sweden has always supported a competitive market that is fair to producers and consumers,” he said.

Wiberg said the automotive sector is going through an important transformation, adding that Swedish car manufacturers are rapidly moving towards the production of fully electric vehicles, with the target of producing almost 100 percent EVs by 2030. – BERNAMA

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