Samsung SDIEM investment shows MNCs’ confidence in Malaysia — MIDA
21 Jul 2022
Samsung SDI Energy Malaysia Sdn Bhd’s (Samsung SDIEM) RM7 billion investment underscores the confidence multinational companies have in Malaysia, the Malaysian Investment Development Authority (MIDA) said.
Its chief executive officer Datuk Arham Abdul Rahman said in a statement that MIDA is constantly seeking opportunities to collaborate and facilitate the growth plans of companies bringing advanced technology here to further elevate the electric vehicle (EV) industry and its ecosystem.
The cumulative RM7 billion investment, RM1 billion in phase one and RM6 billlion in phase 2, is its first production location in Southeast Asia and the first EV battery cell facility in Seremban, Negeri Sembilan.
Negeri Sembilan Chief Minister Datuk Seri Aminuddin Harun said the state government has always encouraged the entry of high-tech and high-impact investments such as Samsung SDIEM to drive economic growth, as outlined in the Negeri Sembilan Integrated Concept Master Plan 2021-2045.
The state government also uses investor-friendly policies to attract new investments / expansion via INVEST NS, he said.
The state’s total investments rose to RM5.76 billion in 2021 from RM1.41 billion in 2017, he said, adding that Negeri Sembilan is the destination of choice for investors.