By: Zaki Salleh
IPOH: Perak’s economic mission to China continues to yield positive results, with several leading automotive companies expressing their commitment to invest in the state, further strengthening Perak’s position as a national hub for the automotive and high-technology industries.
The Perak delegation recently visited Ningbo Fresh Technology Co., Ltd in Shanghai, a company that had previously established an automotive components manufacturing facility in Tanjung Malim.
Following discussions, the company expressed its intention to expand its operations through a new investment valued at RM263 million at the Tanjong Malim Hi-Tech Park.
The investment is expected to bring significant benefits to the state economy through the creation of high-skilled employment opportunities, technology transfer and the development of the local workforce.
Apart from serving domestic market demand, the project is also targeted at export markets, with the potential to enhance the competitiveness of Malaysia’s automotive sector.
In a related development, the state delegation also visited Yantai Yatong Precision Mechanical Technology in Changshu, Suzhou.
The company, which has more than two decades of experience in automotive component manufacturing, supplies products to several globally renowned vehicle brands.
Notably, Yantai Yatong has announced plans to establish its first manufacturing plant outside China, with Perak selected as its preferred investment destination.
The proposed RM160 million investment at the Tanjong Malim Hi-Tech Park is expected to further strengthen the rapidly expanding automotive ecosystem in the area.
If realised, the two investments would bring a combined value of RM423 million to Perak.
The development is seen as a significant achievement resulting from the state government’s aggressive efforts to attract high-quality foreign direct investments.
