Datuk Seri Kong Cho Ha, the Minister of Transport has called on car makers to look into the emerging markets and their potentials. He said that companies in the automotive industry would succeed if they are able to create business models that align with the trends in the market. He said that the potential of markets, regardless of whether they are giants like China or the integrated markets must also be tapped into in order to survive.
In Malaysia, the government is looking to create the environment which facilitates local players to develop further in order to establish their brand names in the global automotive market and that the government is looking to allow the sector to capitalize on the market’s full potential in terms of growth into becoming the region’s manufacturing hub. This of course has been kick started with the recent launch of the Peugeot right-handed models by Naza Group.
He was speaking at the Third Kuala Lumpur International Automotive Conference 2010 where he added that the government is currently working on strategies which are appropriate in opening up the local sector while ensuring that the local brands are protected. Hence, the level playing competition will allow companies to strategize their investments for the future. For the global brands, they can look into new ventures like investing in the country, while for the local brands, they will have to now be more competitive in line with the globalization and liberisation strategies.