Guan Eng: Third national car will not involve public funds

This article first appeared in The Edge Financial Daily, on August 14, 2018.
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KUALA LUMPUR: The third national car, if it materialises, will be done using private investment, according to Finance Minister Lim Guan Eng.

In his winding-up speech for the Supply (Reallocation of Appropriated Expenditure) Bill 2018 in Parliament yesterday, Guan Eng said he had clarified the matter with Prime Minister Tun Dr Mahathir Mohamad.

“When I ask the prime minister about this, he said if the third national car project happens, it will not be financed by public funds or money from the government. It will be done through private investment,” he said.

Earlier this month, Entrepreneur Development Minister Mohd Redzuan Mohd Yusof reportedly said that Putrajaya was set to launch the national car project 3.0 by 2020, as envisioned by Dr Mahathir.

He also said the government believes the move could revitalise the national automotive industry.