Proposed carbon tax not hindrance for investors
Prime Minister Datuk Seri Anwar Ibrahim said he knew that the trend towards decarbonisation is strong and compelling.
"But I think we have to be very realistic. The proposed carbon tax should not be seen as too problematic at the expense of investing companies," he said during a question and answer session at the Roundtable Meeting with Captains of Industry in Paris, the capital of France on Friday.
Also present were Investment, Trade, and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, Foreign Minister Datuk Seri Mohamad Hasan, Transport Minister Anthony Loke, Agriculture and Food Security Minister Datuk Seri Mohamad Sabu and Minister in the Prime Minister's Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said.
Anwar, who is here on a two-day official visit, said the implementation has to be done cautiously and gradually.
"We are finalising that in the next few months actually," he said, adding that they are looking at sectors that are the biggest carbon emitters first.
Despite the palm oil industry being an important sector for Malaysia, Anwar said any new plantations on peat soil have been stopped due to its high carbon emissions.
The government is planning to introduce the carbon tax in 2026, specifically targeting the iron, steel and energy industries.
It is part of the government's broader strategy to promote the use of low-carbon technologies and meet emission reduction goals.
Industry leaders who attended the session with the Prime Minister praised the government and the country for providing a good investment climate in Malaysia.
On tourism, Anwar said the number of tourists from France visiting Malaysia has increased tremendously.
"We have direct flights from Paris now. You can swim the whole year due to our favourable climate," he quipped, citing the newly introduced Kuala Lumpur-Paris route by Malaysia Airlines.
Anwar also assured French companies considering investments in Malaysia or the ASEAN region that both represent some of the fastest-growing and most dynamic economies in the world.
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