KUALA LUMPUR: Malaysia is seeking greater foreign investment and technology transfers to develop its rare earth industry and tap mineral resources estimated to be worth RM747.2 billion.
Investment, Trade and Industry Minister Datuk Seri Johari Abdul Ghani said strategic partnerships with technologically advanced countries were needed to strengthen Malaysia's rare earth processing and manufacturing capabilities, particularly in high-value industries.
He said Malaysia had an estimated 16.2 million tonnes of non-radioactive rare earth resources, with industry development expected to create 4,000 jobs.
Johari said the government aimed to develop an integrated rare earth ecosystem covering the entire value chain, from mining and processing to finished product manufacturing.
