National Energy Policy 2022 – 2040 Launched by the Government of Malaysia
The sustainable use of energy has been given increasing priority in Malaysia in recent years. One of the latest initiatives launched by the Government of Malaysia is the National Energy Policy 2022 – 2040 (“NEP“). The NEP recognises the energy sector as a key source of national income and seeks to set out targets, action plans and initiatives with the aim of future-proofing the energy sector in Malaysia to reap the economic advantages arising out of the structural shift in the trend of energy systems towards cleaner sources of energy.
The NEP sets out specific targets which include efforts to: (i) increase the total installed capacity of renewable energy; (ii) increase the amount of renewable energy supply as a percentage of the total primary energy supply in the country; (iii) increase the percentage of electrical vehicle share in the country; (iv) increase the percentage of residential, commercial and industrial energy efficiency savings, and (v) to reduce the percentage of coal use in installed capacity. These targets are intended to usher the nation toward becoming a low carbon nation by 2040.
The strategies adopted to achieve the objectives of the NEP cover the optimisation of energy resources, the stimulation of growth and market opportunities, the enhancement of environmental sustainability in the use of energy, and ensuring fiscal sustainability and energy security (i.e. the uninterrupted availability of energy sources at an affordable price). The NEP also outlines 12 strategies and 31 action plans to implement its objectives. These action plans include measures which involve enhancing solar, hydroelectric and bioenergy resources and enhancing access to renewable energy by businesses.
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The Government of Malaysia Launches the Malaysia Digital Initiative
On 4 July 2022, the Government of Malaysia launched a new digital economy initiative, namely the Malaysia Digital (“Malaysia Digital Initiative“). It is intended to replace the 25-year-old Multimedia Super Corridor agenda to become the primary national strategic initiative on the digital economy in Malaysia.
This initiative was established by the Ministry of Communications and Multimedia through its digital economy agency, the Malaysian Digital Economy Corporation (“MDEC“). The vision behind this initiative is to accelerate economic growth in nine areas, namely (i) digital trade, (ii) digital agriculture, (iii) digital services, (iv) digital cities, (v) digital health, (vi) digital finance, (vii) digital content, (viii) digital tourism, and (ix) Islamic digital economy.
As part of this initiative, the Government of Malaysia, through MDEC, will award Malaysia Digital Status (“MD Status“) to eligible companies that participate in and undertake any of the prescribed activities under the Malaysia Digital Initiative. Eligible activities include financial technology (fintech), data centre and cloud services, artificial intelligence, and robotics.
MD Status companies will be entitled to a set of incentives, rights and privileges from the Government, subject to necessary approvals and compliance with the applicable laws and regulations. These benefits are collectively termed as the Malaysia Digital (“MD“) Bill of Guarantees (“BoGs“). The BoGs represents the manifestation of the Government’s intention to facilitate the growth and development of MD Status companies. Under the BoGs, MD Status companies are eligible to apply for and/or enjoy certain incentives such as tax incentives and exemption, and greater flexibility to source capital and funds globally, among others. In order to facilitate the applications of prospective applicants, MDEC has also launched the Malaysia Digital Platform to consolidate and ease the application procedure for all interested entities.
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Personal Data Protection Department Provides Updates to Proposed Amendments to Malaysian Personal Data Protection Act
In February 2020, the Personal Data Protection Commissioner issued a public consultation paper titled “Public Consultation Paper No. 01/2020 on Review of the PDPA” (“Public Consultation Paper“) in relation to the proposed amendments to the Personal Data Protection Act 2010 (“PDPA“).
Following the issuance of the Public Consultation Paper, the Personal Data Protection Department (“JPDP“) provided updates on the proposed amendments to the PDPA on 4 July 2022, where representatives of JPDP have stated that they have further shortlisted proposed amendments to the PDPA and have submitted the same to the Attorney General’s Chambers of Malaysia for further review.
Some key shortlisted amendments to the PDPA are as follows:
- imposition of a requirement for all data users to appoint at least one Data Protection Officer;
- introduction of a mandatory data breach notification requirement;
- extension of the scope of application of the PDPA (which currently only applies to data users) to data processors;
- introduction of a right of data portability, which is the right of data subjects to obtain and reuse their data for other purposes across different services; and
- introduction of a “black-list” regime whereby data users will generally be allowed to transfer personal data to other countries subject to compliance with certain minimum criteria stated in the amended PDPA or its regulations, save for jurisdictions that have been specifically black-listed by the Minister of Communications and Multimedia.
In addition to the above, JPDP has indicated that several minor amendments had been approved by the relevant Ministers, and will likely be tabled in Parliament together with the said principal amendments in October 2022.
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Please note that whilst the information in this Update is correct to the best of our knowledge and belief at the time of writing, it is only intended to provide a general guide to the subject matter and should not be treated as a substitute for specific professional advice
