DRB-HICOM, Geely Aim To Attract RM32 Billion In AHTV Investment

The Global Investors & Vendors Convention 2023 has been organised by Proton in Kuala Lumpur to discuss potential overseas investment opportunities on Tanjung Malim, Malaysia's future Next Generation Vehicles (NxGV) hub.
For the record, DRB-HICOM and Geely signed a heads of agreement (HOA) on April 1 this year for the development of the Automotive High-Tech Valley (AHTV) into Malaysia's automotive industry hub for the ASEAN region.
The conference saw YB Senator Tengku Datuk Seri Utama Zafrul, Minister of Investment, Trade, and Industry as the guest of honour and attracted over 200 participants from government agencies, management representatives from DRB-HICOM, Geely and PROTON as well as local and overseas vendors. According to Syed Faisal Albar, Group Managing Director, DRB-HICOM, and Chairman of Proton, the conference is part of DRB-HICOM and Geely's effort to attract RM32 billion in overseas investment in AHTV and the country in order to realise the vision of transforming AHTV into a globally recognised tropical-based research and development of high technology automotive components.

“As the shift to New Energy Vehicles gathers pace AHTV will embrace the changing automotive landscape by offering an integrated ecosystem that will help Malaysia's automotive sector in line with the direction of the National Automotive Policy ("NAP*) 2020, thus ensuring the country continues as vibrant as its neighbours”, he added. As the project's owners, Proton will continue to have a significant presence there, according to Dr. Li Chunrong, Chief Executive Officer of Proton. The national carmaker will continue to play a significant role in the project's efforts to entice foreign investors, carrying out R&D at AHTV and generating more job opportunities.
“We also view this as part of PROTON's commitment to being a custodian of the automotive industry in Malaysia as we seek to help nurture, develop, and grow the national ecosystem," he added.