KUALA LUMPUR, June 24 — Malaysia is set to provide some 3,000 employment opportunities and reap at least RM42.2 billion in foreign investment through the manufacturing of photovoltaic modules in the next five years, Prime Minister Tan Sri Muhyiddin Yassin announced today.

In a statement, Muhyiddin said Risen Energy Co Ltd — headquartered in the People’s Republic of China and ranked fifth globally in manufacturing — had successfully obtained a Manufacturer’s Licence and Incentive under the National Economic Recovery Plan (Penjana) for the designing, development and manufacturing of solar cells and solar modules in Malaysia under its local subsidiary, Risen Solar Technology Sdn Bhd.

"Insya-Allah, the five-year investment period from 2021 to 2025 is expected to generate 3,000 employment opportunities for Malaysians while the company would also collaborate with local universities and learning institutions in conducting research and development (R&D) activities, including internships.

"I am confident the presence of Risen Solar will transform Malaysia into an integrated manufacturing hub for solar technology.

"The investment from Risen Energy is a resounding success for the country, at the same time demonstrates our capability in managing the country’s economy while the global grapples with challenges brought about by Covid-19,” he said on Facebook.

Earlier today, Muhyiddin attended a virtual meeting held between International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali, Malaysian Investment Development Authority chief executive Arham Abdul Rahman and Risen Energy Co Ltd president-cum-chairman Xie Jian.

At the moment, Muhyiddin said there were already several global manufacturers for solar products such as Jinko Solar, Longi Solar, JA Solar, Hanwha Q Cell, First Solar and Sun Power operating in Malaysia.

During the virtual meeting, Muhyiddin said he shared how the Malaysian government practised an investment-friendly approach and always welcomed the inflow of new investments through various incentives accorded to investors.

He also assured Xie that the government was committed to ensuring the smooth implementation of future investments.

"God willing, the continued trend of high-impact foreign investment influx will surely instill greater confidence among foreign investors circles towards Malaysia’s economic recovery plan,” he added.