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Government Committed To Ensuring Resilient Local Auto Industry Eco-System: MITI

[ 05-04-2016 ]
Government Committed To Ensuring Resilient Local Auto Industry Eco-System: MITI
KUALA LUMPUR, April 4 (Bernama) -- The government will not abdicate its responsibility in ensuring the eco-system of the domestic automotive industry remains resilient, the Ministry of International Trade and Industry said.

It said it is important to underscore the importance of the automotive industry in Malaysia as a strategic industry in the manufacturing sector.

"In line with the aspirations outlined in the National Automotive Policy (NAP), the government is committed to further enhancing the development of this sector," the ministry said in a statement uploaded on its web portal today.

The ministry said the government is also reviewing, from all aspects, local car manufacturer Proton's application for a soft loan.

It said despite Proton's status as a private company, a vital consideration in the review process is the welfare of the carmaker's 12,000 employees, as well as that of the more than 47,000 workers employed by the company's 350 parts and components manufacturers and support and services-related vendors.

"Proton's application for financial help from the Government will be evaluated in the context of this larger national goal.

"The company's long-standing position as one of the national car projects will be taken into consideration, as will the real and urgent need for Proton to implement a sustainable -- even difficult -- restructuring plan that can ensure its long-term economic viability," it said.

-- BERNAMA