PM Anwar: China’s Geely to invest US$10b to make Tanjung Malim region’s largest auto city
Prime Minister Datuk Seri Anwar Ibrahim and Chairman of Geely Holding Group, Eric Li, during the official launching ceremony of the Proton X90 at MITEC in Kuala Lumpur May 7, 2023. Anwar said Geely's aspiration to invest US$10 billion was conveyed by the company in a letter to him last night. — File picture by Firdaus Latif
Tuesday, 18 Jul 2023 1:09 PM MYT
SEKINCHAN, July 19 — Chinese automobile manufacturer Geely will invest US$10 billion (RM45.3 billion) to turn Tanjung Malim, Perak, into the region’s largest auto city.
Prime Minister Datuk Seri Anwar Ibrahim said the aspiration, conveyed by the company in a letter to him last night, would create thousands of job opportunities for Malaysians.
“I am mentioning this for the first time. Geely, which is jointly producing cars with Proton, has written a 10-page letter to me to inform that it wants to continue to make Tanjung Malim the largest automobile city in the region. It will kick off with US$10 billion or RM40 billion in investment,” he said in his speech at the Selangor state-level Sentuhan Agro Madani programme here today.
“All this is not for getting commission or gift, but to ensure the growth of our economy and thousands of our young people will secure jobs,” he said.
Meanwhile, Anwar, who is also finance minister, said the Saudi Arabian government and the kingdom’s oil and gas (O&G) giant Aramco will focus on its investment and operational expansion in Malaysia.
“Aramco chief executive officer (CEO) Amin Nasser has informed me that Aramco is comfortable with the government’s policies and leadership and has decided to make Malaysia the hub for Saudi Arabia’s O&G expansion in Southeast Asia.
“Coincidentally, the Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah, who performed the haj (recently) and sat next to Saudi Crown Prince Mohammed Salman Al Saud, related that the central focus of Saudi Arabia’s Asian investments is in Malaysia,” he said.
Anwar noted that Malaysia has recorded commendable economic performance with a 5.6 per cent growth in the first quarter of 2023, which compared favourably against China, Singapore and Indonesia.
He also said the country successfully attracted some RM71 billion worth of (approved) investments in the first three months of this year, contributed partly by the political stability.
“This figure excludes the investments from (Tesla CEO) Elon Musk, Aramco and Geely,” he added. — Bernama
Tuesday, 18 Jul 2023 1:09 PM MYT
SEKINCHAN, July 19 — Chinese automobile manufacturer Geely will invest US$10 billion (RM45.3 billion) to turn Tanjung Malim, Perak, into the region’s largest auto city.
Prime Minister Datuk Seri Anwar Ibrahim said the aspiration, conveyed by the company in a letter to him last night, would create thousands of job opportunities for Malaysians.
“I am mentioning this for the first time. Geely, which is jointly producing cars with Proton, has written a 10-page letter to me to inform that it wants to continue to make Tanjung Malim the largest automobile city in the region. It will kick off with US$10 billion or RM40 billion in investment,” he said in his speech at the Selangor state-level Sentuhan Agro Madani programme here today.
“All this is not for getting commission or gift, but to ensure the growth of our economy and thousands of our young people will secure jobs,” he said.
Meanwhile, Anwar, who is also finance minister, said the Saudi Arabian government and the kingdom’s oil and gas (O&G) giant Aramco will focus on its investment and operational expansion in Malaysia.
“Aramco chief executive officer (CEO) Amin Nasser has informed me that Aramco is comfortable with the government’s policies and leadership and has decided to make Malaysia the hub for Saudi Arabia’s O&G expansion in Southeast Asia.
“Coincidentally, the Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah, who performed the haj (recently) and sat next to Saudi Crown Prince Mohammed Salman Al Saud, related that the central focus of Saudi Arabia’s Asian investments is in Malaysia,” he said.
Anwar noted that Malaysia has recorded commendable economic performance with a 5.6 per cent growth in the first quarter of 2023, which compared favourably against China, Singapore and Indonesia.
He also said the country successfully attracted some RM71 billion worth of (approved) investments in the first three months of this year, contributed partly by the political stability.
“This figure excludes the investments from (Tesla CEO) Elon Musk, Aramco and Geely,” he added. — Bernama
Meanwhile the Ringgit drops every day under the Madani Government.
ReplyDeleteThailand has established a vast & supportive automobile supply chains with years of working with the Japanese brands.
ReplyDeleteThailand is eager to switch from ICE models to EV where the Chinese r the main players.
In fact, Thailand's policy to develop a regional EV production base and an integrated EV supply chain have attracted five major Chinese EV makers including Geely, BYD, Chongqing Changan Automobile, JAC Motors & Jiangling Motors.
Tanjung Malim would have a tough fight in hand to secure a deal to become ASEAN’s largest auto city.