Aiming to achieve net carbon zero by 2050, the government is stepping up its efforts to enhance electric vehicle (EV) infrastructure and encourage green adoption through increased investments and implementing preferential policies for EV manufacturers such as Tesla to set up shop in Malaysia. Just how far have the policies gone?

How far is Malaysia on its EV journey?

A major development that public-listed companies and professional investors should pay attention to this year is the launch of global sustainability reporting standards by the International Sustainability Standards Board (ISSB).

Making sense of sustainability reporting developments

The Malaysian government released the much-awaited National Energy Transition Roadmap (NETR) in two parts earlier this year, detailing how Malaysia will transition towards cleaner sources of energy. This is important because energy is the biggest source of emissions, and many low-hanging fruits – solar power systems and energy efficiency, for instance – are ripe for harvest.

Malaysia’s energy transition

The US Federal Reserve continued on its monetary tightening path in 2023, sending the US dollar higher, triggering the collapse of some of the nation’s banks that spooked capital markets, and putting an end to the 40-year bond rally. The global economy seems to have survived so far, given nascent signs that inflation is cooling and talks of the Fed achieving a soft landing for the US economy. Though the greenback remains strong, the worst seems to be over for the ringgit.

Weighed down by rate hikes and the strong US dollar

If the last few years have taught us anything, it is that the future is unpredictable. From the widespread embrace of digital transformation to the burgeoning importance of cybersecurity and the transformative potential of artificial intelligence (AI), which will only continue to gather pace in the new year, many emerging trends have impacted the country’s business landscape. Here are some of the key business and technology trends we foresee opening a new chapter for Malaysian companies in the year ahead.

Navigating Malaysia’s tech horizon

The rapid expansion of the country’s digital economy in recent years positions it as a potential primary driver of development. The government sees it as a key driver of economic growth and a new source of fiscal revenue.