Prime minister Datuk Seri Anwar Ibrahim says that the issue of allegedly strict conditions being imposed on electric vehicle (EV) companies will be brought up for discussion with the ministry of investment, trade and industry (MITI), Bernama reports.
This comes following Perak tourism, industry investment and corridor development committee chairman Loh Sze Yee’s remarks yesterday, where he said that the federal government needs to reassess the conditions imposed on EV companies planning to set up factories in the country.
Loh said there were concerns about several policies that were too stringent and could undermine foreign investor confidence, thus damaging the country’s investment climate. He said that these conditions need to be reassessed based on overall benefits and long-term national interests.
The remarks made by Loh follow on the issue surrounding BYD’s local assembly (CKD) plans. In March, it was reported that the Chinese automaker was said to be relooking its plans to set up production here because it could not agree with the terms set by MITI with regards to related requirements. The ministry then responded with a statement on the matter.
Loh said that the relevant authorities must provide a clear, transparent and convincing explanation to safeguard policy stability and Malaysia’s investment credibility, adding that the state of Perak would continue to pursue constructive engagement and mediation within the available timeframe.
He also reiterated the state’s position that any form of BYD’s production presence in Malaysia must remain in Perak and not be relocated to any other state, in line with existing agreements and development commitments, while fully respecting the state’s development rights. The planned BYD facility is supposed to be built at the KL-Kepong High-Tech Park in Tanjung Malim.
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