GREEN TECHNOLOGY TO PLAY KEY ROLE IN NEW ECONOMIC MODEL

KUALA LUMPUR, Nov 26 (Bernama) -- Green technology will play a crucial role
in the new economic model as it will be one of the new growth engines to the
country, says Energy, Green Technology and Water Minister Peter Chin
Fah Kui.

"Prime Minister Najib Tun Razak wants to promote green technology
usage to push for economic growth in the new economic model.

"We are talking about green growth and green financing and how it can be
done through the green development process.

" Following the discussions, the government recently announced RM1.5 billion

(US$1=RM3.4) allocation to issue soft loans to companies supplying and utilising
green technology.

" Looking at the number of companies it may not be huge. If there are very
good takers from the industry, I'm sure the RM1.5 billion will be increased.

" Green technology can be the catalyst to boost the industry," he told
reporters after officiating at the soft launch of the International Greentech
and Eco Products Exhibition and Conference.


Chin said these initiatives were taken to expedite green technology
development.

He said the government would take measures to promote Malaysia as the
regional green technology hub and for related services.

" In the way we are growing the green technology industry, we should be able
to see a lot of difference under the 11th Malaysia Plan.

" Green technology will be our economic focus. Whatever you do, your car
will be more efficient, we will have more hybrid and electric cars.

" Housing developers will build more green-houses when the people realise
the benefits of green technology," he said.

On the International Greentech and Eco Products Conference, Chin said it
would serve as the springboard to operationalise the National Green Technology
Policy.

" The government believes this is the way forward towards a sustainable
environment and to create the right business culture for continued economic
growth for the nation," he added.

The four-day conference, with the tagline " A Green New Deal", aims to
promote the green technology industry which will help pump-prime the economy,
create jobs, eliminate poverty and avert environmental disasters.

The conference will be held from Oct 14 to 17, 2010 at the Kuala Lumpur
Convention Centre.

-- BERNAMA