UMW Toyota Motor welcomes the various measures taken by the government following the National Automotive Policy (NAP) announcement earlier today by the Ministry of International Trade and Industry.
According to Mr. Kuah Kock Heng, President of UMW Toyota Motor Sdn Bhd, “We are pleased that the government is committed to implement the ASEAN FTA and other existing, as well as new FTAs, as per schedule.”
“Another positive note is that the government has taken the first step towards implementing a ‘Vehicle End of Life Policy’”, he added.
He also said, “The Government has indicated that it intends to implement the Euro 4M fuel standard by 2011. This will put Malaysia on par with most developed countries.”
On vehicles parts incentive, Mr. Kuah said, “We welcome the additional incentives outlined to support the development of a high value-added parts & components sector and this augurs well for the future of the Malaysian automotive industry. With regards to the aspect of consumer safety, a key measure announced was the phasing out of used parts & components by June 2011.”
“While we appreciate these various measures, we still have to contend with an excess in global automotive manufacturing capacity at this moment”, he added.