KUALA LUMPUR – Chinese automaker Zhejiang Geely Holding Group Co Ltd (Geely) has poured in an additional RM10 billion in investments to expand the Automotive High Technology Valley (AHTV) development plan in Proton City, Tanjung Malim, Perak, reaffirming its commitment to Malaysia.
Prime Minister Datuk Seri Anwar Ibrahim noted that this was the latest among an influx of foreign investments into Malaysia, which aligns with the government’s current policy direction.
“Geely, after fulfilling several prior investment commitments for Proton, has now decided to inject RM10 billion into the expansion of the automotive city,” he said during the Khazanah Megatrends Forum (KMF) 2023, earlier this evening, as quoted by a local news portal.
With Geely’s injection of funds, Anwar said this reflected the government’s dedication towards attracting diverse investors to Malaysia.
“A few months ago, we witnessed a noteworthy surge in foreign investor interest. For instance, Infineon Technologies AG (Infineon) increased its investment by five billion euros (RM25 billion), marking the company’s largest investment outside of Germany,” he said.
“We’ve also successfully attracted AWS (Amazon Web Services), Elon Musk, and secured fresh investments from China.”
In addition to these achievements, Anwar, who is also Finance Minister, hinted at more investments coming from the United Arab Emirates (UAE).
“Tomorrow, I will embark on a one-day visit to Abu Dhabi, UAE. In the coming days, we anticipate exciting news from the UAE, as their investors are poised to focus on Malaysia, positioning our nation as the primary Arab investment hub in the region,” he said.
Anwar also stressed the importance of addressing critical governance issues for the benefit of the economy, calling upon political leaders, professionals, and government-linked companies (GLCs) to prioritise this aspect.
He also noted that clarity on policies is a required prerequisite for discussions on foreign and domestic investor confidence. – October 3, 2023