Ningbo: Ningbo Fresh Technology Co Ltd of China will invest an additional RM263 million in Tanjong Malim, Perak, hence further strengthening the country's automotive industry ecosystem. Perak Menteri Besar Datuk Seri Saarani Mohamad announced that Ningbo already operates an automotive component manufacturing plant in Tanjong Malim.

According to BERNAMA News Agency, Ningbo plans to expand its operations with an investment totalling RM263 million at Tanjong Malim Hi-Tech Park to serve both local and export markets. This investment is anticipated to stimulate the state's economic growth, create high-skilled job opportunities, and accelerate technology transfer and local talent development, as stated by Saarani on his official Facebook page.

Saarani is currently heading a delegation from Perak on a trade and investment mission to China, where they visited Ningbo Fresh Technology Co Ltd in Shanghai, among others. He emphasized that Perak will continue to enhance its position as a strategic investment destination for the automotive and high technology industries, as well as the development of industries of the future.

Earlier during the trip to China, the Perak State Agricultural Development Corporation signed a memorandum of strategic cooperation with Shuifa Energy Group Co Ltd to explore the development of a renewable energy project in the state.