In a note, Wong & Partners said the rollout of the NAP 2020 is in tandem with the emergence of new technological frontiers affecting mobility landscapes worldwide.
“This decade-long framework aims to augment the velocity of the Malaysian automotive industry in the global race to be at the forefront of mobility.
“It also presents a host of opportunities for businesses in the industry seeking to invest in Malaysia, grow their footprint in the Southeast Asian market and compete for leadership in the future of the automotive sector,” the law firm said.
The long-awaited NAP 2020, an enhancement of NAP 2014, was launched on Feb 21 to elevate Malaysia’s automotive industry to the next phase of industrial competitiveness, in line with the changing mobility landscape in the global market.
The NAP 2020 is expected to contribute RM104.2 billion to the Malaysian economy over the next decade, with the ultimate objective of making Malaysia a regional leader in manufacturing, engineering and technology as well as to ensure sustainable development of the local automotive industry.
Under NAP 2020, three key technological elements are introduced, namely: next-generation vehicle, Mobility as a Service and Industrial Revolution 4.0.