Taiwan-Japan explore business opportunities in Malaysia - MIDA | Malaysian Investment Development Authority
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Taiwan-Japan explore business opportunities in Malaysia

Taiwan-Japan explore business opportunities in Malaysia

26 Aug 2023

Taiwanese and Japanese enterprise associations as well as Malaysian industry players have gathered in a seminar at the Taiwan Expo 2023 today to discuss the global supply chain issues.

In a statement today, the Taiwan Expo 2023 said during the opening remarks, Taipei economic and cultural office in Malaysia director of the economic division James Chang as well as the director of economic division, and embassy of Japan in Malaysia economic counsellor Masashi Hosomi emphasised the strong and longstanding technical and trade cooperation between Taiwan and Japan.

It said they also highlighted Malaysia’s robust business environment which has made it one of the most favourable target markets for joint operations.

Commissioned by the Bureau of Foreign Trade, Taiwan External Trade Development Council (TAITRA), in collaboration with the Japan External Trade Organization (JETRO), the Japan-Taiwan Business Cooperation Seminar in Malaysia aims to promote Taiwan-Japan supply chain cooperation and jointly expand into the ASEAN market.

The seminar covered a diverse range of topics, including the characteristics of Taiwanese and Japanese industries as well as market conditions in Malaysia.

Among the prominent speakers who attended were the Taiwan Chamber of Commerce and Industry in Malaysia (TWCHAM) president Lin Kai Min and Japanese Chamber of Trade and Industry, Malaysia (JACTIM) chief coordination officer Kazuya Kitae.

Lin said Taiwanese businesses are not only accelerating their upgrade in traditional industries and advancing rapidly towards intelligent and automated processes but also actively venturing into innovative areas such as smart healthcare and green energy, in line with the New Southbound Policy.

Meanwhile, Kazuya said most Japanese companies in Malaysia are optimistic about the positive future prospects driven by new business development in the electrical and electronic industries, the adoption of electric vehicle and growth in the wholesale and retail markets.

“The cooperation between Taiwan and Japan can complement each other in the supply chain and through platforms such as seminars like this, industrial sharing and exchanges can further facilitate collaboration between Taiwanese and Japanese industries,” he said.

The statement said Malaysia has been very effective in stabilising its market and possesses a high receptiveness to new products and positive developments in agriculture, technology, manufacturing and services industries despite challenges arising from the pandemic and political fluctuations.

It added that Taiwanese and Japanese businesses are optimistic about the potential business opportunities in the country.

Source: Bernama