ID :
17779
Tue, 09/02/2008 - 17:59
Auther :
Shortlink :
https://oananews.org//node/17779
The shortlink copeid
M'SIA WANTS MORE INVESTMENT IN R&D BY FOREIGN AUTO MANUFACTURERS, SAYS NAJIB
KUALA LUMPUR, Sept 2 (Bernama) -- Malaysia wants to see more investments in research and development by foreign auto manufacturers here, Deputy Prime Minister Najib Razak said Tuesday.
By encouraging the entry of new and important players, Malaysia wants to
see
continued growth in the auto assembly sector, particularly strengthening of
automotive parts and components manufacturing as well as higher-end auto
electronics.
"It is the government's intention to raise the level of Malaysia's
automotive industry so that Malaysia does not just have a national industry, but
we would also be known as a regional automotive player," he said at the launch
of Chery Eastar MPV.
"It is with this in mind that we encourage the entry of powerful foreign
partners like Chery which will undoubtedly open doors to new markets for many
local manufacturers of automotive parts and components," he said.
Najib said Malaysia always welcomed any investor wanting to base their
regional operations on local shores.
He said given Malaysia's strategic location and good ties with its
neighbours, investors would find Malaysia to be the ideal gateway into
Asean.
"By choosing Malaysia as its base, Asean's fast growing auto market
which
is projected to reach two million new cars and light commercial vehicles by
2010, will become immediately accessible to investors through their Malaysian
partner," he said.
As entry into the Asean market will continue to be restricted for
completely
build-up (CBU) in the medium-term, Najib said the Malaysian partner's
manufacturing facilities, local knowledge and channels will provide and
indispensable stepping stone for the foreign partner's vehicle range into the
Asean market.
"Malaysia also understands that in today's economically uncertain global
environment, the competition for foreign direct investment is much more intense
and cut-throat than it ever was before," said Najib.
"We realise that to stay in the game and ahead of the pact, we must
continuously refine our attractiveness as an investment destination and we
intend to do just that," he said.
Najib said he took a personal interest in this as he chaired the Cabinet
Committee on High Impact Investment which specifically looked into customised
incentives for partners.
He said Malaysia's auto sector must move with the times and continue its
transformation to remain strong and steady on an upward growth
trajectory.
Najib said Malaysia must pursue its stated goals of building joint
economies
of scale together with the external auto world through a process of
specialisation and inter-exchange.
He noted that this was the principle that underpins the National Auto
Policy unveiled in March 2006 aimed at repositioning Malaysia's auto industry
in the face of new global challenges.
By encouraging the entry of new and important players, Malaysia wants to
see
continued growth in the auto assembly sector, particularly strengthening of
automotive parts and components manufacturing as well as higher-end auto
electronics.
"It is the government's intention to raise the level of Malaysia's
automotive industry so that Malaysia does not just have a national industry, but
we would also be known as a regional automotive player," he said at the launch
of Chery Eastar MPV.
"It is with this in mind that we encourage the entry of powerful foreign
partners like Chery which will undoubtedly open doors to new markets for many
local manufacturers of automotive parts and components," he said.
Najib said Malaysia always welcomed any investor wanting to base their
regional operations on local shores.
He said given Malaysia's strategic location and good ties with its
neighbours, investors would find Malaysia to be the ideal gateway into
Asean.
"By choosing Malaysia as its base, Asean's fast growing auto market
which
is projected to reach two million new cars and light commercial vehicles by
2010, will become immediately accessible to investors through their Malaysian
partner," he said.
As entry into the Asean market will continue to be restricted for
completely
build-up (CBU) in the medium-term, Najib said the Malaysian partner's
manufacturing facilities, local knowledge and channels will provide and
indispensable stepping stone for the foreign partner's vehicle range into the
Asean market.
"Malaysia also understands that in today's economically uncertain global
environment, the competition for foreign direct investment is much more intense
and cut-throat than it ever was before," said Najib.
"We realise that to stay in the game and ahead of the pact, we must
continuously refine our attractiveness as an investment destination and we
intend to do just that," he said.
Najib said he took a personal interest in this as he chaired the Cabinet
Committee on High Impact Investment which specifically looked into customised
incentives for partners.
He said Malaysia's auto sector must move with the times and continue its
transformation to remain strong and steady on an upward growth
trajectory.
Najib said Malaysia must pursue its stated goals of building joint
economies
of scale together with the external auto world through a process of
specialisation and inter-exchange.
He noted that this was the principle that underpins the National Auto
Policy unveiled in March 2006 aimed at repositioning Malaysia's auto industry
in the face of new global challenges.
