Chinese automobile manufacturer Geely has announced a USD 10 billion investment to transform Tanjung Malim in the Malaysian state of Perak into a prominent auto-making hub. The news was conveyed to Malaysian Prime Minister Anwar Ibrahim in a letter from the company, which already holds a 49.9% stake in Malaysian car-maker Proton. The investment is expected to generate numerous employment opportunities for Malaysians.
Prime Minister Anwar Ibrahim expressed his appreciation for the investment and highlighted its significance for the country’s economy and job creation. He emphasized that the intention behind the investment was not personal gain, but rather to promote economic growth and secure employment for the country’s youth.
“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 USD 10 billion or RM40 billion in investment,” he said in his speech at the Selangor state-level Sentuhan Agro Madani programme.
The development of Tanjung Malim as an auto-making hub is expected to have positive effects on the local economy, attracting additional investments and stimulating industrial growth in the region.
The investment aligns with Malaysia’s broader goal of becoming a major player in the automotive industry, fostering technological advancements, and boosting the domestic manufacturing sector. Geely’s involvement and partnership with Proton have already contributed to the growth and development of Malaysia’s automotive sector.
