KUALA LUMPUR: Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz has rubbished Kedah Menteri Besar Datuk Seri Muhammad Sanusi Md Nor's claim that there was a "grand design" to foil private investment in the state.
"We have never sabotaged investments in Kedah! We have brought in many investments there," he said in a post on X today.
Zafrul said following a meeting with the prime minister in South Korea, Hyundai Motor Company announced an additional investment of RM2.16 billion in Kulim, Kedah.
Zafrul said Hyundai plans to establish local vehicle production in the state, including electric vehicle (EV) models as well as premium and luxury models aimed at the Asean market, with production set to begin in mid-2025.
"This collaboration will also include the development of a local EV ecosystem, with a focus on high-tech EV battery technologies.
"Hyundai's additional investment will strengthen Malaysia's role as a regional automotive hub, in line with the New Industrial Master Plan 2030," Zafrul said.
Zafrul said Hyundai's commitment will also create hundreds of highly skilled jobs for Malaysians and generate more employment opportunities for small and medium-sized enterprises that support their operations.
Zafrul's remarks came after the Perikatan Nasional Jeneri assemblyman claimed that there was a "grand design" to foil private investment in the state.
Sanusi made the allegation during a heated exchange with Pakatan Harapan Kota Darulaman assemblyman Teh Swee Leong, who asked for an explanation on the decision by several private investors to bail out of projects announced by the state government, including the Langkasuka project.
On Nov 22, global investment leader Bin Zayed International Group of Companies (BZI) announced it had officially withdrawn from the RM40 billion Langkasuka project in Langkawi, citing a lack of viable opportunities.