Followed by Porsche AG’s decision to set up an assembly plant in Malaysia recently, Senior Minister cum International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali said that it will create high-quality jobs and niche technology capabilities, which will solidify the country’s National Investment Aspirations (NIA).
Side note: The NIA is a forward-looking growth framework that will form the basis for comprehensive reforms of Malaysia’s investment policies. The 5 core objectives include to increase economic complexity, create high-value jobs, extend domestic industry linkages, develop new and existing clusters, and improve inclusivity.
According to BERNAMA, Mohamed Azmin said in a statement on 3rd September that the remark is based on Porsche’s reputation as a high-performance car manufacturer that demands state-of-the-art technology and precision engineering.
The assembly plant that the German automobile manufacturer will establish in Kedah in partnership with Sime Darby Bhd will support the NIA’s objectives.
Porsche’s decision reflects its trust in Malaysia’s strong position as the preferred manufacturing hub for globally renowned automotive original equipment manufacturers (OEMs)
Despite the challenging global economic landscape, Porsche strongly believes that Malaysia is an ideal gateway for the ASEAN market, making Kedah production plant its first local assembly outside of Europe in more than 70 years of company history, said Mohamed Azmin.
He added that Porsche’s initiative embodies the company’s confidence in Malaysia’s conducive ecosystem and strength to support its long-term growth.
“It also acknowledges the capability of our local talent of highly skilled engineers and technicians.”
Meanwhile, the senior minister said the Malaysian government will ensure a conducive environment for foreign industry leaders to do business in the country through fiscal and non-fiscal incentives. This is coupled with Malaysia’s readiness in providing high-skilled talents as well as capable technology partners.