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China’s Geely to invest $10b in Malaysian auto city: report


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Chinese automobile manufacturer Geely will invest $10 billion to turn Tanjung Malim in the Malaysian state of Perak into a major auto-making hub, Malaysian Prime Minister Anwar Ibrahim said on Tuesday, according to state news agency Bernama.

Anwar said the plan was conveyed to him in a letter from the company, which also owns a 49.9% stake in Malaysian car-maker Proton, Bernama reported.

The investment would create thousands of job opportunities for Malaysians, Anwar said, according to Bernama.

“All this is not for getting a commission or gift, but to ensure the growth of our economy and thousands of our young people will secure jobs,” he was quoted as saying at an event.


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