In its second year of operation, the Modernisation Fund has disbursed a total of €4.11 billion in support of 61 projects in eight beneficiary countries. These projects will help modernise energy systems, reduce greenhouse gas emissions in energy, industry, transport and agriculture, and improve energy efficiency. Supporting these investments will help those Member States to meet their 2030 climate and energy targets and accelerate the EU's green transition.

Disbursements were made this year to Croatia (€119.8 million), Czechia (€1.34 billion), Estonia (€62.4 million), Hungary (€74.3 million), Lithuania (€85 million), Poland (€643.2 million), Romania (€1.39 billion), and Slovakia (€399.5 million). In June, €2.4 billion was already disbursed to support 45 investment proposals, and this is now complemented by a €1.71 billion disbursement today to back 16 more investment proposals.

This year, the 61 investment proposals selected under the Modernisation Fund focus on electricity generation from renewables, modernisation of energy networks and energy efficiency in the energy sector, in industry, in buildings, and in transport, and the replacement of coal generation with lower carbon intensity fuel.

EUROCHAM Malaysia congratulates Mr Tindaro Danze who has been appointed as Siemens Malaysia’s President & Chief Executive Officer. With this appointment, we look forward to collaborate and work closely with our corporate partner Siemens Malaysia.

Siemens Malaysia today announced that Mr Tindaro Danze has been appointed as its new President & Chief Executive Officer effective 1 January 2023. He is concurrently responsible for the Digital Industries (DI) business in Malaysia. 

Prior to these appointments, Mr Danze was based in Germany as the Head of Global Sales for DI's Digital Enterprise and Vertical Management. He managed the company’s regional industrial digitalization units, enabled global digitalization projects, and oversaw Siemens DI vertical approach in key industries. 

Malaysia is headed in the right direction by signing several free trade agreements (FTAs), said EUROCHAM Malaysia, following the inking of the EU-Malaysia Partnership and Cooperation Agreement (EU-MY PCA) between the European Union (EU) and Malaysia.

In a statement on Tuesday (Jan 3), EUROCHAM stated that FTAs have proven to be one of the best ways to open up foreign markets for Malaysian exporters.

The EU-MY PCA was signed during the inaugural Asean-EU Commemorative Summit in Brussels on Dec 14, 2022, a significant milestone in the history of the EU-Malaysia bilateral relationship.

“Besides serving to enhance the political dialogue on global issues, the agreement lays the ground for mutually beneficial cooperation in multiple policy areas such as environment, transport, trade and employment, to name a few,” EUROCHAM said.

The chamber further highlighted that the EU-MY PCA paves a promising path towards recommencing discussions on the EU-Malaysia Free Trade Agreement (MEUFTA).

Malaysian Investment Development Authority (MIDA) released the Invest Malaysia e-Newsletter – a monthly industry update for global investors.

To read the full e-newsletter, please refer here: https://online.fliphtml5.com/ptxxo/oqwl/#p=1

HAPPY NEW YEAR!

We would like to wish all our members, friends and connections a happy New Year! May the new year bring you happiness, peace and success. Cheers to another year!

In its second year of operation, the Modernisation Fund has disbursed a total of €4.11 billion in support of 61 projects in eight beneficiary countries. These projects will help modernise energy systems, reduce greenhouse gas emissions in energy, industry, transport and agriculture, and improve energy efficiency. Supporting these investments will help those Member States to meet their 2030 climate and energy targets and accelerate the EU's green transition.

Disbursements were made this year to Croatia (€119.8 million), Czechia (€1.34 billion), Estonia (€62.4 million), Hungary (€74.3 million), Lithuania (€85 million), Poland (€643.2 million), Romania (€1.39 billion), and Slovakia (€399.5 million). In June, €2.4 billion was already disbursed to support 45 investment proposals, and this is now complemented by a €1.71 billion disbursement today to back 16 more investment proposals.

This year, the 61 investment proposals selected under the Modernisation Fund focus on electricity generation from renewables, modernisation of energy networks and energy efficiency in the energy sector, in industry, in buildings, and in transport, and the replacement of coal generation with lower carbon intensity fuel.