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June 27, 2008

Malaysia eyes investment from hybrid car makers
Malaysia offers the opportunity for leading automotive companies particularly those producing hybrid vehicles to locate their operations in the country, reported state news agency Bernama Thursday.

The companies would be able to cater for the domestic and regional markets, International Trade and Industry Minister, Muhyddin Yassin was quoted as saying. He added high fuel cost has created demand for such vehicles in the region.

The minister's speech, s read by the ministry's deputy minister Jacob Dungau Sagan at the Frost & Sullivan Asean Automotive Awards 2008, in Kuala Lumpur, noted: "Malaysia in fact is well placed to become the hub for hybrid vehicles in the region. I hope automotive assemblers will take advantage of this opportunity."

Given that the automotive industry is evolving at such a dynamic pace, he said Malaysia is also paying attention to capacity building and is continuously developing the capabilities of small and medium scale enterprises (SMEs)
producing automotive parts and components to ensure these companies remain competitive.

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