PETALING JAYA: Chinese automobile manufacturer Geely will invest US$10 billion (RM45.4 billion) to turn Tanjung Malim, Perak, into the region’s largest automotive city.
Prime Minister Anwar Ibrahim said the aspiration would create thousands of job opportunities for Malaysians, as claimed by the company.
“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.
“It will kick off with US$10 billion or (about) RM40 billion in investment,” he said at the Selangor state-level Sentuhan Agro Madani programme here today.
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Anwar, who is also the finance minister, also said Saudi Arabia and its oil and gas (O&G) giant Aramco will focus on expanding their investment and operational expansion in Malaysia.
“Aramco CEO Amin Nasser has informed me that Aramco is comfortable with the government’s policies and leadership and has decided to make Malaysia the hub for Saudi Arabia’s O&G expansion in Southeast Asia.
“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 a commendable economic performance with a 5.6% growth in the first quarter of 2023, which compared favourably against China, Singapore and Indonesia.
He also said the country has successfully attracted some RM71 billion worth of investments in the first three months of this year, contributed partly by political stability.
“This figure excludes the investments from (Tesla CEO) Elon Musk, Aramco and Geely,” he said.
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