MITI: Third National Car Must Fund Itself, NAP Due Next Year

In a morning interview with top business radio station BFM, Dr Ong Kian Ming, Deputy Minister in the Ministry of International Trade and Industry (MITI) has provided an update on the third national car project.

Dr Ong said his ministry received 21 proposals that included the private sector, individuals, together with government-linked companies. A project that is financially sustainable will be the main deciding factor as the government will not be funding the project.

“As you have seen in the Budget 2019, there is no commitment made by the Government on the funding of the third national car project. So, whatever proposals that were handed in will have to include a serious financial funding to make it viable,” said Dr Ong.

Meanwhile, the updated National Automotive Policy (NAP) will only be available early next year. Dr Ong reiterated that the policy will incorporate the entire automotive ecosystem, which is mainly the vendors, suppliers, as well as end-user infrastructure such as charging facilities for electric vehicles. 

Dr Ong also mentioned that the vehicle Approved Permit (AP) system will remain as his ministry did not see the impact of the vehicle importation system affecting the prices of new vehicles.