Dr. Yeah, Anwar-Musk Meeting Likely To Generate Positive Economic Spill-Over

Dr. Yeah Kim Leng, Sunway University Economic Professor (Image Credit: The Malaysian Reserve)

According to an economic expert, Dr. Yeah Kim Leng, an economics professor at Sunway University the upcoming meeting between Tesla’s Elon Musk and Prime Minister, Datuk Seri Anwar Ibrahim, is expected to have a cascading effect on the country's path toward becoming an electric vehicle (EV) hub in the region.

Dr. Yeah believes that regardless of the specific type and value of Tesla's investment in Malaysia, any commitments resulting from the meeting will significantly boost the Malaysian EV industry. Moreover, investment from iconic organisations often have a greater spillover effect, fostering increased confidence from local and foreign investors. This, in turn, opens up more avenues for suppliers, service providers, spare parts manufacturers, and component manufacturers to actively engage with the EV industry.

Anwar had late last week announced Musk’s intention to meet with him to discuss Tesla's growth expansion plans in Malaysia.

Tengku Datuk Seri Zafrul Abdul Aziz, the Minister of Investment, Trade, and Industry, also highlighted that the potential cooperation between Malaysia and Tesla would naturally extend beyond the EV sector to other industries as well. The goal is to attract more investment commitments in the automotive sector and other sectors that can be marketed in Malaysia.

Presently, the nearest official Tesla service centre is located in Singapore, and owners participating in the GreenTech program have been sending their vehicles back to Hong Kong for major repairs.

Additionally, Azrul Reza Aziz, the CEO of the Malaysia Automotive, Robotics, and IoT Institute (MARii), also expresses his confidence that the meeting between Anwar and Musk will pave the way for fruitful cooperation between both parties. He believes that the possibility of Tesla increasing its investment in Malaysia will contribute to the country's economic growth and facilitate the development of a sustainable and environmentally friendly mobility ecosystem.

Source: BERNAMA