The Ministry of International Trade and Industry (MITI) has said that the delay in the approval of new car model prices are to ensure incentives are granted and given according to guidelines. Since 2006, this approval is done by ABDC or the Automotive Business Development Committee comprising of representatives from MITI, Ministry of Finance (MoF), Malaysia Investment Development Authority (MIDA), Royal Malaysian Customs Department, and Malaysia Automotive, Robotic and IoT Institute (MARii, or previously known as MAI/Malaysian Automotive Institute).
In a statement by ABDC, some companies obtained approval without proper evaluation by bypassing the committee and getting incentives straight from MoF. “In this regard, MITI invites the MAA and industry players to have further consultation on this issue and to collectively address grievances in order to facilitate the growth of the automotive industry,” it added.
ABCDC’s statement came after the Malaysia Automotive Institute (MAA) commented that the government is causing a delay in new car model pricing due to delays over tax incentive decisions.
MITI deputy minister Dr. Ong Kian Ming later said that the ministry is ready to expedite the approval of incentives for the pricing of new vehicles. "We recognise that this process needs to be made more efficient and are more than willing to work with the Malaysian Automotive Association (MAA) to ensure that the process is speeded up," he said.
Source: Bernama
