“MITI together with MIDA and other agencies, forge partnerships at home and on the global stage in areas where Malaysia and its partnering countries can complement each other well. These partnerships are among the factors that have led to the thriving trade and investment in this country, leading our nation to achieve economic stability and prosperity over the years,” said YB Dato’ Sri Mustapa.
The forum was held in conjunction with the 60th anniversary celebration of diplomatic relations between Malaysia and Japan. The trade history between both countries started in the 1970s. The bilateral relationship is further enhanced with the Malaysia-Japan Economic Partnership Agreement (MJEPA), the ASEAN-Japan Comprehensive Economic Partnership (AJCEP), the Regional Comprehensive Economic Partnership (RCEP) as well as the recently agreed Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
“In our next phase of growth, we are promoting Malaysia as a hub for high technology products and activities in ASEAN region. Malaysia and Japan share complementary strengths that make us good partners to pursue innovation-driven business opportunities in ASEAN and beyond. As we celebrate 60 years of collaboration, both countries should continue to leverage on each other’s strengths to tap on business opportunities, address regional trade and investment challenges, while exploring new areas in emerging technologies and services. Moving together, I trust that Asia will continue to prosper for another 60 years to come,” added YB MITI Minister.
In his closing remarks, Dato’ Azman said, “We have been deeply encouraged by today’s turnout which testifies to the interest of the Japanese business society in the region to explore investment opportunities in Malaysia. There have been a series of interesting presentations and active discussions throughout the day. This has given us the opportunity to share our experiences and exchange of ideas on approach and mechanism undertaken by Malaysia and Japan in developing, among others the services and high technology industries. Ultimately, we look forward to receiving more Japanese investments, particularly those which are high value-added, capital intensive and knowledge based; particularly in new growth areas within emerging technologies.”
Mr Hirotomo Nomura, Senior Managing Director of Nikkei Inc. said, “Many Japanese companies, including the manufacturing industry, have already advanced into Malaysia and are reinvesting in response to the expectations of the Malaysian government. I believe today's forum will encourage Japanese companies to invest more in other broad areas and contribute to further development of Malaysia.”
The event featured talks by Konica Minolta, Sumitomo Mitsui Banking Corporation and PricewaterhouseCoopers; and 2 panel discussions on ‘Medium-sized Enterprises Play Pivotal Role in Driving Malaysia’s Industrial Growth’ and ‘Malaysia as The Launchpad to Asian Market: Opportunities in the Industry 4.0’. The panellists were leading experts from Terasaki Electric, Rohm-Wako Electronics, ABC Cooking Studio Worldwide, Panasonic Management Malaysia, Nippon Express and Mitsui & Co.
In terms of FDI stock, Japan stood as the second largest foreign investor in the country, after Singapore, with investments valued at US$16.6 billion (RM70.0 billion) as at September 2017. Japan is also one of Malaysia’s top sources of FDI in the manufacturing sector. A total of 2,621 projects with Japanese participation have been implemented with investments valued at US$27.8 billion (RM88.5 billion) as at end of 2016.
Mr. Nelson Samuel Wilson
of Foreign Investment Coordination Division, MIDA