Geely to increase investment in Malaysia, says Anwar

Geely to increase investment in Malaysia, says Anwar

The prime minister says his meeting with Geely chairman Li Shufu proves that the Chinese automobile manufacturer is committed to continue investing in Malaysia.

Prime Minister Anwar Ibrahim and Geely chairman Li Shufu pose for a photo during the latter’s courtesy call earlier today. (Facebook pic)
PETALING JAYA:
Chinese automobile manufacturer Zhejiang Geely Holding Group Co Ltd (Geely) plans to increase its investment in the country, including making Malaysia a vehicle manufacturing hub for export purposes, says Prime Minister Anwar Ibrahim.

Anwar, who received a courtesy visit from Geely chairman Li Shufu today, said the meeting proved that Geely was following through with its commitment to continue investing in Malaysia as announced during his official visit to China in March.

“The Chinese automobile manufacturer also plans to increase its participation in the field of research and development as well as the provision of local skilled workers, in line with the needs of the industry in the future,” said Anwar in a Facebook post.

“I am confident that this initiative will be fruitful for our country’s economy.”

Geely is a global automotive giant and also a strategic partner of Malaysian conglomerate, DRB-HICOM Bhd. Geely jointly produces cars with Proton.

Earlier today, Anwar said he would be meeting Geely representatives at the Tanjung Malim Automotive High-Tech Valley site tomorrow to look into the US$10 billion (RM45.3 billion) investment project and to explore the possibility of expanding the automotive high-tech valley.

Speaking in the Dewan Rakyat during the Prime Minister’s Question Time, Anwar said the meeting would prove that the company was serious about investing in the Tanjung Malim Automotive High-Tech Valley.

In July, Anwar said Geely would be investing US$10 billion (RM45.4 billion) to turn Tanjung Malim, Perak, into the region’s largest automotive city.

“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 auto city in the region,” he said in a Bernama report.

“All this is not for getting (a) commission or gift, but to ensure the growth of our economy and secure jobs for our youth.”

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