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MITI: APs Are Here To Stay

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MITI: APs Are Here To Stay

Business radio station BFM was interviewing Dr Ong Kian Ming, Deputy Minister of the International Trade and Industry (MITI) earlier today.

According to Dr Ong, the current Approved Permit (AP) system for imported cars will remain unchanged. “I don’t think the AP is a big imbedment to the development of the auto industry.”

When BFM presenter Khoo Hsu Chuang mentioned that the APs drive up prices of cars, Dr Ong went on to say, “No, actually if you think about the AP numbers, the total number of APs a year is about 20,000 to 40,000 a year, which is less than 10% of the annual total industry volume (TIV).”

Elsewhere, Dr Ong also mentioned that the third national car project must fund itself and that the updated National Automotive Policy (NAP) will be announced in 2019.

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