By Selangor Journal Staff
LONDON: The third national car project will have to be implemented by the private sector as the federal government currently lack the fundings to proceed on their own.
Prime Minister Dr Mahathir Mohamad in defending the project said that the establishment of yet another national car brand will elevate the local industry and create jobs for the people.
He added this would also give the country an opportunity to climb the ranks of international engineering sector as the research and development of the third company will increase Malaysian automotive skills and knowledge.
“Then you develop vendors and create businesses producing parts. This will create jobs for the people and generate a lot of business for small businesses.
“It’s not just about the car, but the engineering possibilities which the car can lead to as well as the stimulation of other areas of economic functions,” he added.
Speaking in a dialogue session with about 200 Malaysians in the UK, Mahathir also reiterated himself in brushing off Proton critics.
He pointed out that Proton had accumulated RM4 billion in reserves and built a plant in Tanjung Malim with its own money with no government assistance or bank loans.
He said Proton as the first national carmaker had achieved much success under good management until foreign cars were allowed to enter the country unrestricted.
“It was all about importing their cars, not exporting ours. Of course, if you don’t export your cars, you don’t earn foreign exchange. If you keep buying foreign cars, you will lose a lot of money every year,” he said.
