FT minister: Qatari businessman eager to invest in third national car

Federal Territories Minister Khalid Abdul Samad speaks to the media at DBKL Tower1 in Kuala Lumpur November 7, 2018. — Picture by Hari Anggara
Federal Territories Minister Khalid Abdul Samad speaks to the media at DBKL Tower1 in Kuala Lumpur November 7, 2018. — Picture by Hari Anggara

IPOH, Dec 16 — Minister of Federal Territories Khalid Abdul Samad today disclosed that an individual from Qatar has expressed interest to invest in Malaysia, among others, in the third national car project, an idea mooted by Prime Minister Tun Dr Mahathir Mohamad.

Without disclosing details, he said the individual was planning on investing US$400 billion (RM1.6 trillion) worldwide, including Malaysia. 

“Dr Mahathir met Sheikh Qatari from Qatar who wants to invest the US$400 billion, globally, (including in Malaysia),” said Khalid.

The prime minister replied by saying: “You have the money, we have the expertise”. 

The Cabinet has laid down a condition that the third national car project cannot involve government funds as the government ‘has no money’.

“But if it is a private initiative, there is nothing wrong in the Qatar investor injecting funds to open a manufacturing plant in Malaysia, using our expertise.

“It’s his money, I am sure we are not going to oppose. If he can do it, there is nothing wrong with it. In fact more jobs will be created... besides we (Malaysia) have the expertise,” he said at the closing of the National Leadership Amanah Convention here today. — Bernama

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