Economy Minister Rafizi Ramli stated that the government will ensure the development of the rare earth element (REE) industry progresses, covering both upstream and downstream sectors. The strategy includes the establishment of two processing plants within the next three years to attract both domestic and international investments.
: The government will ensure the development of the rare earth element industry progresses, simultaneously encompassing the upstream and downstream sectors to meet industrial needs, said Economy Minister Rafizi Ramli.
“I’m hoping that our colleagues, especially investors from around the world, understand that this is Malaysia’s plan, because a lot of new investments, especially those built around processing plants or more downstream industries like battery factories and manufacturers, take at least two or three years to come to fruition,” he said.
Rafizi said Malaysia currently lacks the technological expertise to process REE raw materials and needs to attract investments from advanced nations, such as Japan, to develop this capability.
Rare Earth Elements REE Industry Economy Minister Processing Plants Investments Malaysia
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