Perak: Chinese automotive component manufacturer Yantai Yatong Precision Mechanical Corporation is investing RM160 million to set up a new factory in Perak, further strengthening the state's position as a growing automotive industry hub. Menteri Besar Datuk Seri Saarani Mohamad announced that Yantai Yatong, with over 20 years of experience in supplying automotive components to leading global vehicle brands, has selected Tanjong Malim Hi-Tech Park as the location for its first overseas factory.

According to BERNAMA News Agency, the positive development arises from a recent visit by the Perak state government delegation to Yantai Yatong's headquarters in Changshu, Suzhou. The visit was part of a broader state investment mission to China aimed at fostering economic ties and exploring potential investment opportunities in the region.

Saarani further elaborated that the RM160 million investment is expected to significantly boost Malaysia's automotive landscape, positioning Perak as a key regional hub in the industry. The establishment of the new factory is not only anticipated to enhance the state's economic standing but also to create quality job opportunities for local residents.

The Menteri Besar reaffirmed the state government's commitment to attracting high-quality investments, particularly from the automotive sector, emphasizing the potential benefits for Perak's economy and its workforce. Saarani has been spearheading the investment mission to China with the objective of solidifying economic partnerships and securing substantial investments for the state.