Chinese automaker Geely has announced its plans to invest a staggering $10 billion in developing Malaysia’s main auto-making hub, according to Prime Minister Anwar Ibrahim.<\/p>\n\n\n\n
Continue Reading:<\/strong><\/p>\n\n\n\n Geely’s investment will transform the town of Tanjung Malim in western Malaysia into the largest auto city in the region. The aspiration was conveyed to Anwar in a letter from Geely, highlighting their commitment to the sustainable development of the area.<\/p>\n\n\n\n Prime Minister Anwar Ibrahim revealed that Geely’s investment would create thousands of job opportunities for Malaysians. This significant boost to employment prospects aligns with the government’s goal of promoting economic growth and securing jobs for the country’s young population.<\/p>\n\n\n\n Geely already owns 49.9% of Malaysian car manufacturer Proton and has been collaborating with them. In April, Geely partnered with DRB-HICOM Berhad to establish the auto hub. The initial estimated investment, including contributions from Proton, was $4.46 billion.<\/p>\n\n\n\n In addition to Geely’s investment, Prime Minister Anwar Ibrahim highlighted the focus of the Saudi Arabian government and oil and gas giant Aramco on expanding their operations in Malaysia. Aramco’s CEO, Amin Nasser, expressed confidence in Malaysia’s policies and leadership, selecting the country as the hub for their oil and gas expansion in Southeast Asia.<\/p>\n\n\n\n Anwar Ibrahim praised Malaysia’s commendable economic performance, with a 5.6% growth recorded in the first quarter of 2023, surpassing countries like China, Singapore, and Indonesia. The country’s political stability has contributed to attracting investments, with approximately RM71 billion worth of approved investments in the first three months of the year.<\/p>\n\n\n\n Geely’s substantial investment in Malaysia’s auto hub reflects the country’s attractiveness to foreign investors. The move is expected to have a significant positive impact on the economy, job creation, and the overall growth trajectory of the nation’s automotive industry.<\/p>\n\n\n\n External Links:<\/strong><\/p>\n\n\n\n Prime Minister Anwar Ibrahim reveals Geely’s aspiration to invest $10B, ensuring sustainable growth and employment for Malaysians.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13],"tags":[90,47,16,59,64,91],"class_list":["post-132","post","type-post","status-publish","format-standard","hentry","category-business-economy","tag-automotive-industry","tag-china","tag-economic-growth","tag-johor","tag-malaysia-economy","tag-saudi-arabia"],"aioseo_notices":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/investinmalaysia.com\/index.php\/wp-json\/wp\/v2\/posts\/132","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/investinmalaysia.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/investinmalaysia.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/investinmalaysia.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/investinmalaysia.com\/index.php\/wp-json\/wp\/v2\/comments?post=132"}],"version-history":[{"count":3,"href":"https:\/\/investinmalaysia.com\/index.php\/wp-json\/wp\/v2\/posts\/132\/revisions"}],"predecessor-version":[{"id":138,"href":"https:\/\/investinmalaysia.com\/index.php\/wp-json\/wp\/v2\/posts\/132\/revisions\/138"}],"wp:attachment":[{"href":"https:\/\/investinmalaysia.com\/index.php\/wp-json\/wp\/v2\/media?parent=132"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/investinmalaysia.com\/index.php\/wp-json\/wp\/v2\/categories?post=132"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/investinmalaysia.com\/index.php\/wp-json\/wp\/v2\/tags?post=132"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
Transformation of Tanjung Malim into the Region’s Largest Auto City<\/h2>\n\n\n\n
Thousands of Job Opportunities for Malaysians<\/h2>\n\n\n\n
Geely’s Partnership with Proton<\/h2>\n\n\n\n
Saudi Arabian Focus on Malaysia’s O&G Expansion<\/h2>\n\n\n\n
Malaysia’s Economic Performance and Investments<\/h2>\n\n\n\n
Geely’s Significant Investment Reflects Malaysia’s Appeal<\/h2>\n\n\n\n
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