Malaysian government is reported to offer attractive incentives to lure in foreign manufacturers like Tata to make the country a global production hub
According to a report emerged on The Sun Daily, Malaysian government is seeking ways to improve its car industry with the help of India. The country’s one of the most successful manufacturers is unarguably Proton and the homegrown brand joined hands with the Chinese firm Zhejiang Geely as it further consolidated its national and operations elsewhere recently.
Said to be the “latest venture”, it is the next step after Proton improving its hold in the market further. Second International Trade and Industry Minister Datuk Seri Ong Ka Chuan has stated that Malaysia is looking at none other than the Indian conglomerate Tata Group which acquired Jaguar Land Rover and brought it back to the mainstream success it is enjoying right now.
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Moreover, Tata Motors is moving in right direction as far as its own product portfolio is concerned and its latest cars are well-received by Indian customers. The Malaysian government authorities appear to be pursuing some sort of a collaboration and they want Tata to establish a production facility in their country.
The government wants Malaysia to be a manufacturing hub just like India which is at the heart of production for many companies exporting their vehicles to foreign markets. The ambitious idea has reported to have received the green signal from Malaysian Prime Minister Datuk Seri Najib Abdul Razak and Perak menteri besar Datuk Seri Zambry Abdul Kadir.
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The International Trade and Industry Minister further told the publication that attractive incentives will be offered for manufacturers from foreign countries like Tata to set up manufacturing facility. The industrial park adjacent to Proton City will be up for grabs if Tata decides to venture into Malaysia.
If everything pans out well, establishing a production facility in Malaysia could play a significant role in Tata’s global sales aspirations as it could target the vast potential in Southeast Asian markets as well with its own brand.
Source: TheSunDaily