The partnership is in line with the government's efforts to make the automotive industry globally competitive.
Perodua will provide an initial fund worth
"This is another example of a smart partnership between the government and corporate sectors to further strengthen the industry," said Perodua president and chief executive officer,
The signing was witnessed by International Trade and Industry Minister
Aminar said the fund will help local car vendors improve operational efficiency by way of technology and cost management, and by boosting their productivity to global standards.
He said Perodua will support the vendors' production preparation stage of the vehicle parts manufacturing.
The carmaker and its partner,
"The company will also allocate some funds to MAI as part of the vendor development fund to support vendors' technological development and enhancement activities," he said.
Meanwhile, Mustapa said Perodua's new model in the A segment, slated for a launch in the second half of this year, will be an energy-efficient vehicle and eligible for incentives under the National Automotive Policy.
"Incentives will be given after Perodua finalises its incentives application to the
Most Popular Stories
- Major Phone Makers Sign Anti-Phone-Theft Pledge
- College Board Offers a Sneak Peak at New SAT
- 'Beige Book' Federal Reserve Survey, April 2014: Full Text
- Salsa Legend Cheo Feliciano Killed in Car Crash
- Miss. Gov. Signs Bills to Curb Unions
- Google Q1 Earnings Dip as Ad Prices Slip
- Hiring and Weekly Jobless Claims Both Edge Up
- PepsiCo Q1 Profits Rise on Snack Sales, Cost Cuts
- Snowden Questions Putin on TV Call-in Show
- Poor Barbie Sales Drag on Mattel