The Ministry of Investment, Trade and Industry (MITI) of Malaysia has presented a proposal for a one-time subsidy for electric vehicle (EV) owners to boost the growth of this industry.
Deputy Investment, Trade and Industry Minister Liew Chin Tong (Photo: Bernama)
Kuala Lumpur (VNA) - The Ministry of Investment, Trade andIndustry (MITI) of Malaysia has presented a proposal for a one-time subsidy forelectric vehicle (EV) owners to boost the growth of this industry.
Deputy Investment, Trade and IndustryMinister Liew Chin Tong said on February 28 that the suggestion was presented tothe Ministry of Finance during the National EV Steering Committee’s meeting.
The Low Carbon Mobility Blueprint 2021-2030announced by the Malaysian Government in 2020 outlines a target to have 10,000EV charging stations by 2025 whereby 9,000 units are AC (alternating current)chargers and 1,000 units are DC (direct current) ones.
In 2023, the annual sales volume of new batteryEVs (BEVs) in the country increased by over 400% to 13,257 units compared to3,127 units in 2022.
As at December 31 2023, 2,020 chargingstations had been installed in 750 locations across the country, of which 1,591units are AC type, and the remaining 429 units are DC type./.
The trade and investment targets that Malaysia set for this year are achievable despite the ringgit’s current depreciation versus the US dollar, as many other major fundamentals remain attractive and appealing to global investors, said Malaysian Minister of Investment, Trade and Industry Zafrul Abdul Aziz.
The Ministry of Investment, Trade and Industry (MITI) of Malaysia has announced that the country will speed up the implementation of approved investments to generate positive economic spillovers to domestic small and medium enterprises (SMEs) and the creation of 127,000 job opportunities for the people.
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Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
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Deputy Investment, Trade and Industry Minister Liew Chin Tong (Photo: Bernama) 
