BEIJING, April 26 — Prime Minister Tun Dr Mahathir Mohamad took time off from his busy schedule to witness the exchange of documents between national carmaker Proton Holdings Bhd and its Pakistani and Chinese partners today.
The exchange of document between Proton and Al-Haj Automotive was for the licensing and technical agreement in relation to the national carmaker’s assembly plant in Pakistan.
Proton chairman Datuk Seri Syed Faisal Albar, who paid tribute to Dr Mahathir for the carmaker’s success, said the company hopes to expand its international footprint and Pakistan, with its low motoring rate, would be a good market.
The first Proton’s assembly plant in Pakistan would be located in Islamabad, assembling completely knocked-down Proton cars for the Pakistani market, he said.
Proton announced its intention to set up an assembly plant in Pakistan during the Prime Minister’s visit to the South Asian country in March this year. Dr Mahathir then also witnessed the groundbreaking ceremony of the plant with his Pakistani counterpart Imran Khan.
The Prime Minister arrived in Beijing three days ago for a five-day working visit to attend the Belt and Road Forum for International Cooperation, which was officially opened by Chinese president Xi Jinping today.
The national carmaker entered into an agreement with Al-Haj Automotive in 2018.
Dr Mahathir also witnessed the exchange of documents between Proton and China Construction Bank (CCB) for a financing facility of RM1.888 billion for research and development (R&D), as well as infrastructure development for the national carmaker.
The agreement between Proton and CCB, according to Syed Faisal, would further strengthen bilateral relationship between Malaysia and China.
“The agreement is also a proof of the success of the Belt and Road project,” he said on the China-led infrastructure project where both Malaysia and Pakistan are participants. — Bernama