KUALA LUMPUR (Aug 30): Zhuhai CosMX Battery Co Ltd, a Chinese manufacturer of batteries, plans to build a manufacturing plant in Kedah involving investment of RM1 billion.

The new facility will be constructed in several phases at the Kulim East Industrial Park, with groundbreaking expected to begin in the fourth quarter of 2024, according to the Malaysian Investment Development Authority (Mida). The project is set to create over 1,000 jobs, Mida said.

The palm oil industry has come a long way from the introduction of the plant to the country as an ornamental crop to a complex global powerhouse, contributing significantly to Malaysia’s gross domestic product and the creation of job opportunities. While this pursuit of economic prosperity remains essential, a growing awareness of the industry’s far-reaching social and environmental implications has ignited a shift towards sustainable and responsible practices. Today, the palm oil sector operates within a complex and dynamic environment shaped by converging pressures. Escalating consumer expectations for ethical and sustainable products, coupled with increasingly stringent government regulations and rapid technological advancements, have transformed the industry landscape. With 5.65 million hectares across the country dedicated to the cultivation of the crop, the sector’s impact on local communities, small-scale farmers, indigenous groups and workers is profound and far-reaching.

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