Opposition proposes national entity to manage RM800b rare earth wealth, prevent illegal mining losses
KUALA LUMPUR, Oct 12 — The opposition has proposed the establishment of a national entity to manage rare earth ele...
Opposition Leader Hamzah Zainudin has proposed the creation of a national entity, Reenas, to manage Malaysia's rare earth element (REE) resources worth over RM800 billion. This entity would oversee exploration, processing, and downstream product management to prevent illegal mining and value loss. Hamzah also suggested Malaysia transition from merely selling electricity to foreign data centers to becoming a regional energy powerhouse, exporting clean energy, owning grid infrastructure, and developing energy technology.
The opposition leader further urged the government to consider constructing nuclear power reactors to ensure a stable electricity supply, with a clear timeline for implementation. In the technology sector, Hamzah proposed establishing a National Sovereign Data Centre and enacting an AI Governance Bill to protect sensitive government information, as data center usage is expected to increase by 18-fold by 2040.
He also welcomed the government's continuation of social assistance programs, but proposed a Micro, Small and Medium Enterprises (MSME) Incentive Fund and corporate tax relief to help businesses cope with the new RM2,000 minimum wage.
Written by urgent.news from Malay Mail's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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