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Geely to invest US$10 billion to make Tanjung Malim the region’s largest auto city – PM

Geely to invest US$10 billion to make Tanjung Malim the region’s largest auto city – PM

18 Jul 2023

Chinese automobile manufacturer Geely will invest US$10 billion to turn Tanjung Malim, Perak, into the region’s largest auto city. (US$1=RM4.54)

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 me to inform that it wants to continue to make Tanjung Malim the largest auto city in the region. It will kick off with US$10 billion or RM40 billion in investment,” he said in his speech at the Selangor state-level Sentuhan Agro Madani programme here today.

“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.

“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, related that 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.

He also said the country 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.

Source: Bernama