PM to meet Chinese automaker Geely in Tg Malim, tomorrow 

KUALA LUMPUR: Prime Minister Datuk Seri Anwar Ibrahim is expected to meet Chinese automaker Zhejiang Geely Holding Group Co Ltd (Geely) in Tanjung Malim, Perak, tomorrow, to explore the expansion of the automotive project in the high-tech valley. 

Anwar said the meeting with Geely tomorrow would also shut down rumours made by certain quarters that the US$10 billion (RM45 billion) investment made into Malaysia did not happen. 

"The official visit to China from March 29 to 31 this year has generated a potential investment value of RM170.07 billion, including investments from Geely. 

"As a follow-up to this, I will be visiting Tanjung Malim tomorrow, together with Geely as part of the government's efforts to ensure that the development of the automotive project in the high-tech valley investment can be realised. 

"With this, it is important to note that while some say that the project might not be implemented, it happened and other projects such as the completion of Tesla headquarters in Cyberjaya will follow suit, this month," he said during prime minister's question time in Dewan Rakyat, today. 

Anwar said this in response to Tan Kar Hing (PH-Gopeng) who asked the Prime Minister to state the outcomes of overseas visits including investments, cooperation with other countries and the confidence level of foreign investors in Malaysia.

Earlier this year, Anwar revealed that Geely would kick off an investment worth US$10 billion to turn Tanjung Malim in Perak into the region's largest auto city.

The Chinese carmaker's decision to focus on Malaysia as its hub is apt, given its established ties with the government via Proton Holdings Bhd.

Meanwhile, Anwar added that the government has also taken an approach to administrative reform by establishing the Investment and Trade Coordination Task Force under the International Trade and Industry Ministry (MITI) to ensure that both international and domestic investment could be realised soonest. 

"It should be noted that the ease of doing business can have some challenges sometimes, however, the government is committed to making significant changes. 

"Hence, a one-stop centre in MITI, in collaboration with the task force as well as cooperation with the Prime Minister's Department will ensure that such projects are approved promptly. 

"Meanwhile, the successful investment commitments obtained are proof of foreign investors' confidence in the direction and economic policies introduced by the government through the Madani economy policy, National Energy Transition Roadmap (NETR) and New Industrial Master Plan 2030. 

"This provides a clearer policy framework and will be implemented decisively and systematically through the presentation of the 2024 Budget this Friday."

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