Kuala Lumpur’s Ministry of International Trade and Industry (MITI) and East Coast Economic Region Development Council (ECERDC) plan to take advantage of the growing RV industry’s potential to boost the east coast region and, possibly, Malaysia’s economy, according to a report by the New Strait Times.
MITI Deputy Secretary General Datuk Sri Norazman Ayob, who also spoke at the RV Vehicle Type Approval (VTA) certificate handover ceremony to Knaus Tabbert AG, said the ministry is working in partnership with the Malaysian Investment Development Authority (MIDA) and ECERDC to draw high-quality investment.
They are looking for investments such as those from the RV sector into Malaysia since it can give the necessary boost to achieve robust long-term growth and sustainability for the country.
Although no specific numbers were revealed, the multi-tiered RV industry’s expansion in all is believed to be able to attract billions of ringgit in investments.
MITI is also looking forward to inviting and facilitating further investments to expand the RV industry within the East Coast Economic Region (ECER) and throughout the United States.
The move could likely occur in the first half of 2023. Additionally, Pahang could also be the hub for RVs made locally (CKD); however, no additional details were given.
We are thankful to the German investors for choosing Malaysia as your ideal investment destination to establish the RV industry. It is our endeavor to position Malaysia as the preferred investment destination, especially for German investors like KnausTabbert AG, and help turn Malaysia into the RV hub for ASEAN and the Asia Pacific markets,” said Norazman.
“As with other industries, the growth of the RV industry will stimulate the local economies through its spillover effects. These will not only create job and business opportunities for the locals, but more importantly, they help regional economies to flourish hence narrow the developmental gaps, especially between developed and less developed regions in Malaysia.
The RV industry growth in the East Coast will boost jobs and upgrade skills, benefitting from international partnerships. Malaysia’s move to ace the global RV market promises exciting economic prospects.