Economy minister says Malaysia to deepen renewable energy, connectivity ties with Indonesia, Thailand

KUALA LUMPUR, Sept 12 — Malaysia is committed to strengthening regional cooperation in the field of renewable energy and connectivity as an effort to expand economic opportunities at the sub-regional level of Asean, said Minister of Economy Akmal Nasrullah Mohd Nasir.

He said that sub-regional approaches such as the Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT) can strengthen the economic potential among member countries through the implementation of more structured and effective plans.

“At the Malaysian level, we acknowledge the implementation we have carried out for the blueprint until 2026, and at this moment, we are planning the next blueprint from 2027 to 2031 before moving towards the IMT-GT Vision 2036,” he said at a press conference while attending the 32nd IMT-GT Ministerial Meeting in Medan, Indonesia.

The meeting was held on Sept 10, under the chairmanship of Indonesian Coordinating Minister for Economic Affairs Airlangga Hartanto, and attended by Thailand’s Vice Minister for Office of the Prime Minister Dr Thanadit Raktabutr.

According to Akmal Nasrullah, one of the main focuses includes strengthening the renewable energy sector through initiatives such as the Asean Power Grid, as well as enhancing the level of physical connectivity between Malaysia, Indonesia, and Thailand.

He said that the close geographical proximity between Kuala Lumpur and Medan needs to be fully utilised to accelerate economic integration.

At the same time, Akmal Nasrullah also emphasised the importance of sustainability and digital agendas as new growth drivers, including expanding opportunities in the green economy in the sub-region.

He also expressed Malaysia’s readiness to host the IMT-GT meeting in September 2027 in Langkawi.

Meanwhile, in a joint statement, the ministers reaffirmed their commitment to the IMT-GT Vision 2036, which aims to create an integrated, innovative, inclusive, and sustainable subregion.

They noted that amid geopolitical uncertainties and growing trade fragmentation, there is a pressing need to strengthen resilience and capacity to respond to external disruptions.

The ministers also recognised artificial intelligence (AI) and digital transformation as strategic enablers of productivity, innovation, and competitiveness.

“In this regard, we remain committed to deepening cooperation across the three Focus Areas of Agriculture and Agro-based Industry, Tourism, and Halal Products and Services, supported by the five Enabler Focus Areas, to strengthen resilience and promote shared prosperity,” they said.

The joint statement further highlighted achievements under the IMT-GT Implementation Blueprint (IB) 2022-2026, particularly in gross domestic product (GDP) per capita, foreign direct investment (FDI), and international visitor arrivals, which surpassed the 2026 targets.

The GDP per capita increased from 21,646 current PPP$ in 2024 to 23,290 in 2025, while total trade in goods rose from US$708 billion (RM2.88 trillion) to US$810.8 billion (RM3.30 trillion).

FDI inflows increased from US$27.52 billion (RM112.1 billion) to US$28.44 billion (RM115.9 billion), while the unemployment rate declined from 3.8 per cent to 3.7 per cent, reflecting the subregion’s economic resilience.

“To address remaining gaps, we emphasise that the IB 2027-2031 should be anchored on three strategic goals - Economic Resilience, Integrated Networks, and Shared Prosperity - supported by stronger institutional coordination, stakeholder engagement, and robust monitoring and evaluation towards the achievement of Vision 2036,” it said. — Bernama