Malaysian PM Anwar Ibrahim to Meet Elon Musk for Tesla Investment Talks

Malaysian Prime Minister Anwar Ibrahim has announced plans to meet with Elon Musk, the billionaire CEO of Tesla, next week to discuss the expansion of Tesla’s investments in Malaysia. The meeting comes as Malaysia aims to attract both domestic and foreign investments to stimulate economic growth and address unemployment concerns.

elon musk malaysian pm anwar ibrahim

During a recent meeting with civil servants in Negeri Sembilan, Mr Anwar revealed that Elon Musk had requested a consultation to explore the possibility of increasing Tesla’s investments in Malaysia. Recognizing the importance of investments for economic growth, the Prime Minister emphasized that without such investments, unemployment rates would rise, hampering the country’s economic progress.

Mr Anwar, who assumed office with a national debt of RM1.5 trillion (US$322 billion) and a deficit of 5.6 per cent, expressed gratitude for the opportunity to start reducing the debt and deficit, which he believed would contribute to saving the economy and benefiting the people of Malaysia.

Tesla’s official entry into the Malaysian market is set for July 20, as announced by the company. The Ministry of International Trade and Industry (MITI) has granted approval for Tesla to import Battery Electric Vehicles (BEVs) into Malaysia. The presence of the American electric car manufacturer is expected to create skilled job opportunities and increase the involvement of local companies within the Tesla ecosystem, according to the ministry.

MITI Minister Tengku Zafrul Aziz stated that his ministry and associated agencies would continue efforts to improve the ease of doing business in Malaysia, showcasing the country as pro-trade, pro-industry, and pro-investment. Aziz also expressed intentions to leverage Malaysia’s established electrical and electronics ecosystem to position the country as the preferred investment destination for electric mobility technology.

Prime Minister Anwar highlighted that discussions with Tesla and tech giant Amazon Web Services began in December 2019, with both companies committing to come to Malaysia once the government achieved stability. These ongoing investments demonstrate the positive response from global companies towards Malaysia’s efforts to improve its economy.

In addition to the meeting with Elon Musk, Anwar also recently met with Japanese investors who pledged to increase their investments in Malaysia by RM20 billion. The Prime Minister also acknowledged China’s record-high investment of RM170 billion in Malaysia, underscoring the importance of good governance and economic management as the foundation for economic improvement.

As Malaysia looks to enhance its economic landscape, attracting high-profile investors like Tesla and strengthening partnerships with established companies is expected to have a positive impact on the country’s economic growth and the well-being of its citizens.

The meeting between Prime Minister Anwar Ibrahim and Elon Musk is eagerly anticipated, as Malaysia positions itself as an attractive destination for foreign investments and embraces technological advancements in the field of electric mobility.

Nathan Hot Dog Contest 2023

Leave a Comment