Minister: Sabah poised to attract Japanese investors - MIDA | Malaysian Investment Development Authority
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Minister: Sabah poised to attract Japanese investors

Minister: Sabah poised to attract Japanese investors

26 May 2024

Sabah could offer a conducive environment for Japanese companies and investors, said state Industrial Development and Entrepreneurship Minister Datuk Phoong Jin Zhe.

He said Sabah had been working closely with the Japanese ambassador, His Excellency Takahashi Katsuhiko, and Japanese trade associations, including JACTIM and JETRO.

“Sabah, being the nearest region to Japan, is poised to play a pivotal role in this transformative journey towards sustainable energy solutions. I am thrilled to welcome Japanese investors to Sabah.

“The potential investments in renewable energy and the semiconductor industry align perfectly with our vision for sustainable development and technological advancement.

“Sabah offers unique opportunities for investment, particularly in renewable energy, due to our abundant natural resources, strategic location and diverse power generation mix.”

Phoong was responding to the promising news of increased trade and investment ties between Malaysia and Japan.

The recent announcement by Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz, highlighting the potential for RM40 billion to RM50 billion in renewable energy investments over the next decade, underscores the strategic importance of Sabah and Sarawak in this initiative.

He said Sabah government was actively working to ensure that these investments translated into meaningful economic growth and job creation for Sabahans.

Source: NST