PETALING JAYA: Feedback from automotive industry players at a Budget 2027 session in Tanjung Malim will be taken into account in reviewing incentives for the sector, says Finance Minister II Datuk Seri Amir Hamzah Azizan.
He said proposals and feedback from industry players were very valuable in reviewing policies, incentives and fiscal measures.
Amir Hamzah chaired the session, hosted by DRB-Hicom Bhd and co-organised with the Northern Corridor Implementation Authority as part of the ministry’s Budget 2027 roadshow.
It was attended by local and foreign industry players from the Automotive Hi-Tech Valley (AHTV).
AHTV is being developed through a joint venture between DRB-Hicom and China’s Zhejiang Geely Holding Group as a hub for next-generation vehicles (NxGV).
Amir Hamzah said the automotive industry was an important driver of economic growth, and the government wanted it to contribute more to gross domestic product and help meet the national electric vehicle (EV) adoption target.
“Strengthening the high-tech automotive sector will not only create high-value jobs and boost the country’s export competitiveness, but also act as a catalyst for technology transfer and local human capital development,” he said in a statement yesterday.
The ministry said the session focused on incentives to raise productivity and attract foreign direct investment, enabling the sector to compete regionally while supporting national EV and NxGV ownership targets.
Support for digitalisation, and research and development, as well as the EV and new energy vehicle ecosystem, was also discussed.
It said helping local vendors and suppliers plug into global value chains would increase the value created in Malaysia while strengthening local firms’ capabilities in technology and high-value manufacturing.
Participants also discussed reskilling and upskilling workers to ensure a sufficient pool of highly skilled talent for future engineering and manufacturing jobs.
The ministry said efforts to strengthen the industry were in line with the New Industrial Master Plan 2030 and National Automotive Policy 2020, which aim to position Malaysia as an Asean production and export hub for NxGV.
Input gathered at the Perak session and engagement sessions nationwide will be considered in finalising Budget 2027, which is scheduled to be tabled in Parliament on Oct 9.
