Perak must be selective with REE investors, says Johari
IPOH: Perak should not rush to develop its rare earth elements (REE) industry and should instead prioritise investors willing to share technology and help build the entire value chain domestically.
Perak must exercise caution when selecting rare earth elements (REE) investors, according to Investment, Trade and Industry Minister Datuk Seri Johari Abdul Ghani. The minister urged the state to be selective in choosing strategic partners who bring advanced technology, create jobs, and complement Perak's resources rather than merely extracting and exporting raw minerals.
Johari emphasized that rushing into the REE industry could lead to potential losses if the wrong investors are brought in. He stressed that Perak possesses substantial REE resources but has yet to fully develop the upstream, midstream, and downstream segments necessary to maximize their economic value. To achieve this, Johari suggested partnering with investors who possess the necessary technology, investment capacity, and a willingness to coexist and complement Perak's existing resources.
He expressed willingness to personally facilitate a proof of concept to determine the suitability of potential investors in developing the midstream and downstream sectors. Johari highlighted the importance of environmental protection and responsible operations, warning that any negative impact on the environment would ultimately affect Perak.
He stressed the need for close cooperation between the federal and state governments, Invest Perak, the private sector, and relevant agencies to ensure sustainable development of the REE industry. Johari reminded that states should not rush to hand over opportunities to anyone and must take their time to ensure lasting benefits for the country.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
