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Malaysia Eases Restrictions on Foreign Carmakers
Malaysia is lifting rules that have barred foreign carmakers from locally producing vehicles fitted with engines displacing fewer than 1.8 liters, Bloomberg News reports.
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Malaysia is lifting rules that have barred foreign carmakers from locally producing vehicles fitted with engines displacing fewer than 1.8 liters, Bloomberg News reports.
The licensing restrictions have helped shield state-backed carmaker Proton Holdings Bhd from direct foreign competition. But they also have dampened foreign investment in the country.
M. Madani Sahari, CEO of the Malaysia Automotive Institute, tells reporters the government hopes that lifting the ban will lure investment from such companies as Fiat, Hyundai, Renault and Volkswagen, none of which have major passenger car operations in southeast Asia. The institute helped draft the new policy.
Madani says Malaysia wants to better compete with Thailand, where foreign companies have make that country a regional center for truck production. He says Malaysia hopes to differentiate itself as a supply hub for fuel-efficient cars and the technology that goes with them.
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