Hydrogen economy expected to boost Malaysia’s GDP by 2030

Prime Minister Datuk Seri Anwar Ibrahim attends the National Science Council meeting at National Science Centre accompanied by MOSTI minister YB Chang Lih Kang (left) - RAJA FAISAL HISHAN/The Star

KUALA LUMPUR: A new hydrogen economy is expected to contribute between RM49bil and RM61bil to Malaysia’s gross domestic product by 2030, says the Prime Minister.

Datuk Seri Anwar Ibrahim added that a total of 45,000 job opportunities would also be created under the proposed Hydrogen Economy Technology Roadmap (HETR).

“The HETR that was discussed and agreed upon during the National Science Council would support the country’s Low Carbon Aspirations 2040 under the 2022–2040 National Energy Policy.

“The market for green hydrogen is projected to reach US$189.19bil,” Anwar said in a statement read by Science, Technology and Innovation Minister Chang Lih Kang at the National Science Centre yesterday.

Five strategic cores have been outlined to develop a robust and competitive hydrogen ecosystem by 2050, he added.

Through the implementation of HETR, Malaysia is projected to reduce between 0.4% and 1.3% of its greenhouse gas (GHG) emissions, said Anwar, who chaired the earlier National Science Council meeting.

Anwar said that the Science, Technology and Innovation Ministry (Mosti) has implemented several initiatives and projects related to the new fuel, which include the generation and movement of hydrogen through collaboration between agencies such as NanoMalaysia.

“A comprehensive ecosystem needs to be created to accelerate these industries as well as through the active involvement of the private sector and academics.

“In Malaysia, Petroliam Nasional Berhad (Petronas) and Sarawak Energy Berhad have collaborated in the commercial production of green hydrogen and the exploration of its value supply chain in Asia to meet the demand for global clean energy.”

Meanwhile, Chang, whose ministry is the NSC secretariat, said that the implementation of the roadmap would also involve almost half of the Cabinet.

Among the ministers present at the meeting were Plantations and Commodities Minister Datuk Seri Fadillah Yusof, Transport Minister Anthony Loke and Communications and Digital Minister Fahmi Fadzil.