Malaysian Prime Minister Mahathir Mohamad (centre) browses through a book during the Launching Ceremony of National Automotive Policy (NAP 2020) (Photo: Bernama) Kuala Lumpur (VNA) – Malaysiaofficially launched the National Automotive Policy 2020 (NAP 2020) on February21 in an effort to bolster the development of the domestic automotive sector.
Speaking at the launch ceremony, MalaysianPrime Minister Mahathir Mohamad and Minister of International Trade andIndustry Darell Leiking voiced their expectations that the NAP 2020 will createa new driving force for the country’s economy amid fiercer competition in theautomotive industry and changes in consumer demand.
This move is to help the country’sautomotive sector overcome any challenges and make it a major contributor tothe development of the Malaysian economy.
The policy is expected to contribute 104.2billion ringgit (nearly 25 billion USD) to Malaysia’s gross domestic productover the next 10 years, in line with a projection of a total production volumeof 1.47 million vehicles.
To realise the target, Darell said Malaysiaeyes an increase in research of new technologies; the creation of business andjob opportunities, particularly for small and medium enterprises (SMEs); andthe development of new manufacturing processes and value chains within thelocal automotive and overall automobile sector.
The NAP 2020 is a product of arduousresearch, extensive consultation, and detailed planning based on views andinput from all industry players, academia and relevant government ministriesand agencies.
Overall, the NAP review received positivefeedback from stakeholders, Darell said during the launch./.
Speaking at the launch ceremony, MalaysianPrime Minister Mahathir Mohamad and Minister of International Trade andIndustry Darell Leiking voiced their expectations that the NAP 2020 will createa new driving force for the country’s economy amid fiercer competition in theautomotive industry and changes in consumer demand.
This move is to help the country’sautomotive sector overcome any challenges and make it a major contributor tothe development of the Malaysian economy.
The policy is expected to contribute 104.2billion ringgit (nearly 25 billion USD) to Malaysia’s gross domestic productover the next 10 years, in line with a projection of a total production volumeof 1.47 million vehicles.
To realise the target, Darell said Malaysiaeyes an increase in research of new technologies; the creation of business andjob opportunities, particularly for small and medium enterprises (SMEs); andthe development of new manufacturing processes and value chains within thelocal automotive and overall automobile sector.
The NAP 2020 is a product of arduousresearch, extensive consultation, and detailed planning based on views andinput from all industry players, academia and relevant government ministriesand agencies.
Overall, the NAP review received positivefeedback from stakeholders, Darell said during the launch./.
VNA
