OGSE industry to contribute up to RM50bil to GDP by 2030

KUALA LUMPUR: The oil and gas services and equipment (OGSE) industry is expected to contribute between RM40 billion and RM50 billion to the country’s gross domestic product by 2030 from RM20 billion last year, said Minister in the Prime Minister's Department Datuk Seri Mustapa Mohamed today.

He said the higher contribution by the sector would be driven by the implementation of initiatives under the National OGSE Industry Blueprint 2021-2030.

"The National OGSE Industry Blueprint 2021-2030 aims to provide direction for OGSE companies to improve their competitiveness, efficiency and technological capabilities.

"We must ensure that the growth of the sector is achieved in a sustainable manner without greater costs to future generations, through innovation and advancement in low-carbon technologies," he said in his keynote address during the launch of the blueprint here, today. - Bernama

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

OGSE , GDP , Mustapa Mohamed


Next In Business News

Stocks fall as hawkish Fed reverberates; Treasury yields slide
Moody’s: Chinese banks’ asset quality, capitalisation stable
Oil prices climb as Iran nuclear talks drag, summer demand aids
ESG related projects require RM45b financing in next 5 years
Iskandar Malaysia records RM7.3b investment projects completed in Jan-April
Axiata, Telenor, Digi sign agreements to merge Malaysian mobile ops
MAHB submits revamp plan for Subang airport to govt
FBM KLCI joins regional slump amid Fed shift
SMBC Malaysia appoints Wan Fadzmi as chairman
AmBank offers RM320, 000 cash rewards

Stories You'll Enjoy