SEKINCHAN, July 18 — Chinese automobile manufacturer Geely will invest US$10 billion (RM45.4 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 inform me 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
“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 in his speech at the Selangor state-level Sentuhan Agro Madani programme, earlier today.
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, said 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.
The country has also 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
