Malaysia is looking to expand different industries in their country including the natural gas field which was well-performing long ago in the country. According to recent news and reports, this industry is expected to change the course of the country in no time and impact the economy positively if it reached its full potential.
According to this topic was commented on by different experts and government officials in Malaysia through the latest event in the field known as “the Malaysian Gas Symposium (MyGas) 2019”.
This was commented on by Dr. Mohd Radzi Md Jidin, the Deputy Minister of Economics Affair by saying, “The future prospects of the industry looks promising with global demand forecast to increase over the next decade. This growth trajectory reflects global aspirations of countries in pursuing prosperity while ensuring sustainability, As the country looks to sustain the momentum going forward, the oil and gas industry, which is Malaysia’s second highest export earner, is definitely a key contributor to the country’s trade. The development of the oil and gas industry’s related megaprojects had produced numerous job opportunities and served as a catalyst for talent up-skilling, particularly in surrounding areas. The spillover effect of this industry has also enabled the growth of the downstream economic value chain. Given the promising prospects, there is a need for a comprehensive roadmap and urge for it to be developed in consensus with relevant stakeholders.”