Agreement On Reciprocal Trade Opens Up Opportunities For Rare Earth Investments In Perak - Saarani

GOPENG, Oct 27 (Bernama) -- The Agreement on Reciprocal Trade (ART) signed between the United States (US) and Malaysia has the potential to pave the way for new investments into Perak, particularly in the non-radioactive rare earth elements (NR-REE) sector.

Perak Menteri Besar Datuk Seri Saarani Mohamad said the state welcomes investors from the global economic powerhouse to increase state revenue generation.

“Of course, Malaysian states, including Perak which is among the NR-REE producers, are pleased with the agreement signed between Malaysia and the US.

bootstrap slideshow

“If before this we were dealing (trade) with China, with this agreement, we can expand our dealings with investors from the US, especially for this sector (NR-REE),” he said at a press conference after officiating at the launch of the Zantat PolyCal Innovation Lab Research and Development (R&D) Laboratory at the Keramat Pulai Limestone Industrial Area here today.

Yesterday, Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz announced that the ART signed with the US will not affect the country's sovereignty, on the contrary, Malaysia will benefit in terms of better market access.

Apart from that, Saarani said any trade dealings with foreign investors also need to involve the Malaysian Investment Development Authority (MIDA) which acts as the coordinating agency.

bootstrap slideshow

Regarding today's programme, he said Zantat Holdings Bhd has allocated RM8 million for the construction of a R&D laboratory for the calcium carbonate industry, aimed at driving the transformation of the natural materials industry towards sustainable and innovative high-value products.

Saarani said the construction of the laboratory also opens up new research spaces, expands highly skilled job opportunities and encourages the participation of young people in the fields of material science, chemistry and engineering.

“This laboratory serves as an innovation centre that connects the academic world with the industrial world. This is where knowledge and expertise are translated into applications and developed into products that benefit society.

“In other words, this is the space where theory meets reality, making Perak not only a producer of natural resources but also a creator of solutions based on science and technology,” he said.

-- BERNAMA