The Housing and Local Government Ministry is considering introducing a new policy to strengthen the country's plastics industry, including more comprehensive guidelines on the import and recycling of plastic materials.
Its Minister, Zuraida Kamaruddin said the ministry is currently studying and refining the mechanism and aimed for the new policy to be introduced by next year to help generate national revenue.
“The global plastic recycling market is worth US$600 billion, and Malaysia should take this opportunity and capitalise on the industry's potential.
“We can take input from this white paper to create more comprehensive guidelines for strengthening the plastic industry," she told a press conference after launching the Malaysian Plastics Recycling Industry White Paper in Subang Jaya today.
The white paper, published by Malaysian Plastics Manufacturers Association (MPMA) and Malaysian Plastics Recyclers Association (MPRA), is the plastics recycling industry’s first step in articulating views with stakeholders in order to quickly advance Malaysia’s plastics recycling industry and the importance of properly managing plastic waste streams and waste management infrastructure to develop a viable and sustainable economy.
Meanwhile, MPMA vice-president CC Cheah said the plastics recycling industry currently contributed RM4.5 billion to the Malaysian economy and could potentially grow up to RM20 billion annually with increased investment in better technology, infrastructure and upgrading capacity.
“We alone cannot solve the issue of plastic pollution, but by working together with the plastics industry stakeholders, we can build an advanced plastics recycling industry and catalyse the development of a circular economy,” he said.