Malaysia to open auto sector to woo foreign investments

The trade ministry says Malaysia will from 2010 also offer tax incentives for development of hybrid and electric vehicles, and encourages national carmaker Proton to tie-up with a global player.

The measures are aimed at making the sector more competitive as Malaysia seeks to become a regional auto hub in competition with neighboring Thailand.

However, the ministry said Wednesday that auto import and excise taxes remain unchanged. It says a controversial auto licensing rule for importers will only be scrapped by 2020, instead of 2010.

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