National Energy Policy malaysia, energy sector malaysia, ismail sabri, job opportunities

It will also be able to attract foreign direct investment and strengthen the country's economic and fiscal sustainability, the Economic Planning Unit of the Prime Minister's Department said.

Malaysia's National Energy Policy 2022-2040 (Pelaksanaan Dasar Tenaga Negara), is expected to increase the contribution to the country's gross domestic product (GDP) by RM260bn, and create 207,000 new job opportunities by 2040.

The Policy, which was launched and officiated by Prime Minister Ismail Sabri Yaakob on Monday (19 September 2022), will also be able to attract foreign direct investment and strengthen the country's economic and fiscal sustainability, the Economic Planning Unit (EPU) of the Prime Minister's Department said.

About the National Energy Policy

According to the EPU, the Policy is a "comprehensive energy sector policy with a vision toward energy sustainability to achieve shared prosperity." The energy sector, it shared, is expected to continue playing an important role in generating Malaysia's economic growth, thus allowing other economic sectors to continue to thrive. In order to achieve this vision, the Policy has three objectives in place:

  • improve macroeconomic resilience and guarantee energy supply;
  • achieving equality and social ability, and
  • ensure environmental sustainability.

The Policy has also been aligned with the country's commitment to Sustainable Development Goal 7 (SDG7): 'Ensure access to affordable, reliable, sustainable and modern energy for all', which is "supported by today's global investment landscape that also emphasises environmental, social and governance (ESG) investing."

Other targets set out in the National Energy Policy include:

  • increasing urban public transport mode sharing to 50%,
  • increasing the use of electric vehicles or EVs to 38%, and
  • increasing the total installed capacity of TBB to 18,431 MW.

To realise the above, the government has established the National Energy Council, which will be chaired by Prime Minister Ismail. 

The launch ceremony was also attended by Minister in the Prime Minister's Department (Economy) Sri Mustapa Mohamed; Dr Adham Baba, Minister of Science, Technology and Innovation; Takyuddin Hassan, Minister of Energy and Natural Resources; Tuan Ibrahim Tuan Man, Minister of Environment and Water; Mohd Zuki Ali, Chief Secretary of the Government of Malaysia, and Mohd Shafiq Abdullah, Director General of Public Service Malaysia.


Image / Economic Planning Unit of the Prime Minister's Department

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