Proton organises Global Investors & Vendors Convention 2023 to fuel AHTV project

KUALA LUMPUR: At the China Business Forum held in Beijing back in April, DRB-Hicom and Geely inked an agreement to jointly develop the Automotive High-Tech Valley in Tanjung Malim. Following that, the two marques have now taken the next step towards fulfilling their ambitious vision.

Proton has recently organised the Global Investors & Vendors Convention 2023 in Kuala Lumpur, which was attended by more than 200 participants, including management representatives from DRB-HICOM, Geely, and PROTON, officials from government agencies, local and overseas vendors and 42 automotive suppliers from China.

YB Senator Tengku Datuk Seri Utama Zafrul Bin Tengku Abdul Aziz, the Minister of Investment, Trade, and Industry, graced the event as the guest of honour.

The event served as a platform for potential overseas investors to meet relevant government agencies and potential partners from the local vendor community. Also, it provided an opportunity to present the progress made at the project site, the availability of government incentives, and prospects for companies setting up new businesses at the AHTV.

“The Global Investors & Vendors Convention 2023 is one of DRB-HICOM and Geely’s efforts to attract overseas investment into AHTV and the country and together, we target to attract some RM32 billion worth of investments towards the project, including what has already been earmarked by PROTON. As the shift to New Energy Vehicles gathers pace AHTV will embrace the changing automotive landscape by offering an integrated ecosystem that will help Malaysia’s automotive sector in line with the direction of the National Automotive Policy (“NAP”) 2020, thus ensuring the country continues as vibrant as its neighbours.

“Concurrently, our combined efforts as well as the strong interest shown by vendors from China will help attract support for the project from the Chinese government, which can lead to even more investments propelled into AHTV and Malaysia. Geely’s collaboration with PROTON and their support for the project has already resulted in several investors and component suppliers operating in Tanjung Malim, and their existing high-technology ecosystem is sure to play a major role in bringing the project forwards,” said Syed Faisal Albar, Group Managing Director, DRB-HICOM, and Chairman of PROTON.

According to the agreement, Tanjung Malim, the place where Proton has been operating its production plant for the last 20 years, will be transformed into a smart city and hub for Next-Generation Vehicles (NxGV) in the form of Automotive High-Tech Valley. It will be a hub for renowned tropical-based R&D of high-tech automotive components, including a research university aiming at enhancing the capabilities of Malaysian automotive workers and helping the nation in becoming a regional leader in education for automotive engineering, IT, and AI.

“AHTV will be a regional NxGV hub, but PROTON shall continue to have a large presence there as the owners of the project, DRB-HICOM, and Geely, are also PROTON’s shareholders. Therefore, the company will remain heavily involved in efforts to attract overseas investors to the project, performing R&D activities at AHTV as we further develop our offerings, and creating jobs as we work towards achieving our long-term goals. We also view this as part of PROTON’s commitment to being a custodian of the automotive industry in Malaysia as we seek to help nurture, develop, and grow the national ecosystem,” said Dr Li Chunrong, Chief Executive Officer, PROTON.

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