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RM32bil deals with Japan firms

RM32bil deals with Japan firms

20 Dec 2023

A total of RM29.6bil in potential investments and RM2.8bil in potential exports have been secured in two investment missions to Japan since June this year.

The Investment, Trade and Industry Ministry (Miti) said RM6.6bil of potential foreign direct investments and RM700mil of potential exports were achieved via its recent trade and investment mission to Japan.

“Facilitated by the ministry’s agencies – the Malaysian Investment Development Authority (Mida) and the Malaysian External Trade Development Corporation (Matrade) – this mission was held concurrently with the Asean-Japan Commemorative Summit in which the Malaysia’s delegation was led by Prime Minister Datuk Seri Anwar Ibrahim.

“Miti and its agencies also arranged for a round table meeting between the prime minister and 25 Japanese captains of industry as well as one-to-one meetings with (Japanese conglomerates) ROHM Wako, NEC Corporation and Mitsui & Co Ltd,” it said in a statement yesterday.

The statement said Miti minister Tengku Datuk Seri Zafrul Abdul Aziz also conducted one-to-one meetings with Miyoshi Oil and Fat Co Ltd, Marubeni Corporation, Nichicon Corporation and Itochu Corporation, Bernama reported.

“What is equally important is that many of these new investments are from our target sectors, including renewable energy, electrical and electronics, chemical and digital economy, in line with our New Industrial Master Plan’s missions and intended outcomes.

“We attract investments that will support our missions to embrace technology and digitalisation to drive innovation, enhance productivity and create new opportunities for economic growth as well as decarbonise the manufacturing sector,” the minister said.

He said the ministry is also determined to ensure these investments are realised quickly to bring about more opportunities for the country’s small and medium enterprises and better-paying jobs for Malaysians.

“To that end, various investment approvals, at the federal and state levels, have been expedited through the Investment and Trade Action Coordination Committee and the Investment Coordination Committee Meeting,” Tengku Zafrul added.

Source: The Star