Dateline 2021-05-24, FMT:
Fortunately, the new national automotive policy is still in the draft stage. But after losing the pace of investment for the past 20 years, it looks like there will be more of the same as government custodians appointed to grow the automotive industry try desperately to fix the problem but will fail because they don’t recognise the issue.
First, the central issue about investment flight to Thailand and more recently to Indonesia is that the Europeans and Japanese automotive investors have a choice.
And they don’t particularly fancy having to share their plans, strategies and intellectual properties with a civil service officer in order to apply for customised incentives as proposed in the draft of the new automotive policy.