Miti: National Automotive Policy 2020 to contribute RM104.2b to GDP

Prime Minister Tun Dr Mahathir Mohamad visits a booth after launching National Automotive Policy 2020 at Menara Miti, Kuala Lumpur February 21, 2020. — Bernama pic
Prime Minister Tun Dr Mahathir Mohamad visits a booth after launching National Automotive Policy 2020 at Menara Miti, Kuala Lumpur February 21, 2020. — Bernama pic

KUALA LUMPUR, Feb 21 — The implementation of the National Automotive Policy 2020 (NAP 2020) is expected to contribute RM104.2 billion to the country’s gross domestic product (GDP) by 2030, according to the Ministry of International Trade and Industry (Miti).

Launched by the Prime Minister Tun Dr Mahathir Mohamad, the 10-year policy marks Malaysia’s move towards becoming a regional leader in the automotive sector, particularly in the areas of manufacturing, engineering, technology and sustainable development, in line with the National Automotive Vision.

In a statement today, Miti said the implementation of NAP 2020 is expected to create a total of 323,000 jobs by 2030, with total production industry volume for passenger and commercial vehicle targeted at 1.47 million units and total industry volume at 1.22 million units.

The policy aims to boost research of new technologies, creation of business and jobs opportunities particularly for the small and medium enterprises (SMEs), as well as the development of new manufacturing processes and value chains within the local automotive and overall mobility sector.

“The manufacturing and aftermarket sectors’ ecosystem within the automotive and overall mobility industry would be enhanced, focusing on Next Generation Vehicle (NxGV), Mobility-as-a-Service (MaaS) and Industrial Revolution 4.0.

“Besides aligning with current technological advancements, the NAP 2020 will also have improvements in existing policy measures and implementation,” it said, adding that the policy will also promote the participation of local companies in the domestic and global supply chain.

The NAP 2020 will also focus on encouraging research and development and engineering activities; building capacity in the local workforce; providing support for the national car projects as well as enhancing exports, investments and local production volume.

Miti said NAP 2020 has three directional thrusts, namely technology and engineering, investment and market expansion.

The policy is centreed on three strategies — value chain development, human capital development as well as safety, environment and consumerism to promote the adoption of new, more environmentally friendly technologies.

The implementation of the NAP 2020 are detailed in seven roadmaps/blueprints, which will be continuously reviewed and updated to keep pace with disruptive and evolving global trends, technologies and demands, said the ministry. ­— Bernama

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