Malaysia keen to be global hub for car parts trading
Xinhua, Kuala Lumpur
Malaysia is keen to become a global automotive-parts trading hub to woo foreign firms who can, in turn, share their industry expertise with local players, local media reported Friday. This, essentially, means having more trade fairs in Malaysia, a move intended to spur not only car-related sectors at home, but the tourism fraternity as well. Government incentives aside, the success of Malaysia's car-component industry also depends on local traders' willingness to help home manufacturers sell their products abroad. Likewise, these traders can also navigate foreign offerings into the Malaysian and overseas markets, said Datin Paduka Dr Tan Yee Kew, parliamentary secretary of International Trade and Industry Ministry. "The government encourages international trade fairs to be held in Malaysia to generate business in the automotive and hospitality sectors. Organisers of global trade fairs in Malaysia, involving 500 foreign trade visitors, are eligible for tax exemption on income earned from the events.
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