Govt Announces NAP Framework To Make M'sia Regional Automotive Hub - Bernama

By Yong Soo Heong

PUTRAJAYA, Oct 20 (Bernama) -- The government, Wednesday announced its National Automotive Policy Framework aimed at making Malaysia a regional hub for the manufacturing, assembly and distribution of automotive vehicles and to promote a competitive and viable automotive sector in the country, in particular national car manufacturers.

Ten immediate measures are set for implementation in the framework ahead of the announcement of the NAP, which would be in one to three months, following a study now being conducted, government officials familiar with the NAP framework told a media briefing, here Wednesday.

Among the much-awaited measures is the long-term phasing out of Approved Permits (APs), allowing Bumi-controlled public-listed companies to apply directly for APs and exempting these companies from the 70 percent Bumi shareholding requirement for franchise APs.

The government also said that exclusive franchise holders such as DRB-Hicom and Sime Darby -- which are exclusive franchise holders of certain vehicle brands, can import vehicles directly, rather than through intermediaries.

Besides streamlining the procedures for APs for the importation of cars into the country, the NAP framework provides for a slew of customised incentives even for non-national car manufacturers.

This means that any car manufacturer will be accorded the incentives after due consideration and evaluation as they would be tailor-made to meet the specific needs of an investor.

[More at http://www.bernama.com.my/bernama/v3/news.php?id=161381]