Minister Nga Kor Ming says he will raise BYD’s Perak investment with PM Anwar to secure the best outcome for the state’s economy and EV industry.
IPOH: Issues surrounding electric vehicle giant BYD’s major proposed investment in Perak will be discussed with Prime Minister Datuk Seri Anwar Ibrahim to secure the best possible outcome.
Housing and Local Government Minister Nga Kor Ming stated that BYD choosing Perak would have a profoundly positive impact on Malaysia’s EV sector development, job creation, technology transfer, and state economic strength.
Nga, who is also the Teluk Intan MP and Kepayang assemblyman, highlighted the investment’s significant potential by noting BYD sold over five million EV units globally last year.
He further expressed his readiness to act as a bridge between the Perak state government and the federal government to ensure the investment remains in the state.
“I am ready to act as a bridge between the state government and the federal government, and this issue will be brought to the attention of the Prime Minister so that the best outcome that benefits Perak can be achieved,” he said during a state assembly session.
BYD had previously announced an agreement to establish an EV manufacturing plant in Tanjong Malim, with production expected to commence this year.
Responding to a query on retaining foreign investment, state executive councillor Loh Sze Yee said the government was taking progressive measures to secure investments.
Loh stated that InvestPerak assists investors in starting on-site work after planning permission submission while expediting approvals within 21 days.
He confirmed the state government has taken similar initiatives for BYD’s Tanjong Malim investment and is working closely with all relevant agencies to accelerate approvals.
The federal Ministry of Investment, Trade and Industry had earlier set conditions for BYD’s locally assembled vehicles, including export prioritisation and a domestic sales cap of 10,000 units annually.
These conditions are designed to balance the interests of foreign investment with the protection of the local automotive industry.
