Japan firms eager to do business here: Envoy - MIDA | Malaysian Investment Development Authority
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Japan firms eager to do business here: Envoy

Japan firms eager to do business here: Envoy

24 Apr 2024

Investments from Japan to Malaysia are expected to expand further into new areas of retail, green and sustainable energy, digital industry as well as increase in capacity in traditional areas in the manufacturing sector.

Japanese ambassador to Malaysia Katsuhiko Takahashi told Bernama Japanese companies view Malaysia as an attractive investment hub and are eager to do business in Malaysia.

While Takahashi may not be able to divulge the number of Japanese investments coming into Malaysia this year, he said based on recent trends, there will be a growth from an investment inflow of RM5.272 billion last year.

“Japanese companies are attracted to invest in Malaysia based on its cultural diversity, religious tolerance, good command of the English language and no major earthquake, tsunami or other disasters.

“As a result of the Look East Policy, there are many Malaysians that can speak Japanese.”

According to Takahashi, there are now 1,600 Japanese companies operating in Malaysia.

“We are the fourth largest investor in Malaysia after Singapore, Hong Kong and the US.”

He said Japanese firms are interested in expanding into the green energy sector, particularly in addressing climate change, in line with Malaysia’s aspirations to be carbon neutral by 2050.

He said carbon capture, utilisation and storage in clean energy is another potential area that Japan and Malaysia can collaborate.

The retail sector, according to Takahashi, has also attracted Japanese investors with the expansion of retail names such as Jonetz by Don Don Donki concept stores and Tsutaya bookstore.

Source: The Sun