Prime minister Datuk Seri Anwar Ibrahim says that the difficulty of allegedly strict conditions being imposed on electric vehicle (EV) corporations shall be brought up for discussion with the ministry of investment, trade and industry (MITI), Bernama reports.
This comes following Perak tourism, industry investment and corridor development committee chairman Loh Sze Yee’s remarks yesterday, where he said that the federal government must reassess the conditions imposed on EV corporations planning to establish factories within the country.
Loh said there have been concerns about several policies that were too stringent and will undermine foreign investor confidence, thus damaging the country’s investment climate. He said that these conditions should be reassessed based on overall advantages and long-term national interests.
The remarks made by Loh follow on the difficulty surrounding BYD’s local assembly (CKD) plans. In March, it was reported that the Chinese automaker was said to be relooking its plans to establish production here since it couldn’t agree with the terms set by MITI almost about related requirements. The ministry then responded with a press release on the matter.
Loh said that the relevant authorities must provide a transparent, transparent and convincing explanation to safeguard policy stability and Malaysia’s investment credibility, adding that the state of Perak would proceed to pursue constructive engagement and mediation inside the available timeframe.
He also reiterated the state’s position that any type of BYD’s production presence in Malaysia must remain in Perak and never be relocated to every other state, in keeping with existing agreements and development commitments, while fully respecting the state’s development rights. The planned BYD facility is speculated to be built on the KL-Kepong High-Tech Park in Tanjung Malim.
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This Article First Appeared At paultan.org
