KUALA LUMPUR: The Ministry of International Trade and Industry (Miti) welcomes all Bumiputera corporations, together with these with no prior expertise within the automotive commerce, to use for open authorized permits to import used vehicles.
The move, in line with economist Dr Geoffrey Williams, will create a extra agile and competitive ecosystem and assist enhance market-driven improvements and entry to new fashions extra rapidly.
He informed eNM that easing the restriction would offer extra decisions for shoppers and may assist make automobiles extra reasonably priced.
“APs (authorized permits) have been a significant market entry barrier for a few years so easing this restriction will assist to open up the automotive sector and make it extra competitive. It will assist the automotive sector develop as a result of native suppliers are actually sturdy sufficient to compete,” Williams stated.
“This will assist Bumiputera corporations compete in opposition to restrictions from the previous,” Williams stated.
He stated the APs previously had harmed Bumiputera corporations by proscribing entry to licensed distributors and shutting down market alternatives.
On Wednesday, Miti introduced that any Bumiputera firm, together with corporations which have by no means been concerned in automotive actions, can apply to be appointed as an Open AP firm to interact in automobile importation and gross sales actions in Malaysia, efficient July 1.
Miti stated the move is in keeping with its efforts to proceed to extend inclusiveness and transparency within the Open AP utility course of.
Bumiputera corporations trying to apply for an open AP have to be Sdn Bhd; 100% Bumiputera-owned; have a paid-up capital of RM1 million’ and have been in operation for at the least two years.
Williams additionally stated the enterprise’s primary significance is gross sales, advertising and marketing and after-sales assist features. “The AP difficulty is for importing automobiles as totally made-up merchandise so expertise in automotive will not be so vital. This is actually a gross sales, advertising and marketing and after-sales assist operate,” he added. – eNM
