Working Visit to Tokyo, Japan
From 23 to 28 May 2022, MIDA was part of an official working visit to Tokyo, Japan led by Prime Minister YAB Dato’ Sri Ismail Sabri Yaakob and accompanied by Senior Minister and Minister of International Trade and Industry (MITI), YB. Dato’ Seri Mohamed Azmin Ali.
This visit to Japan signified, MIDA’s continuous efforts in attracting high-value and high-tech investments into Malaysia. During the six-day visit, MIDA, led by Chief Executive Officer, Datuk Arham
Abdul Rahman, held one-to-one meetings and roundtable discussions with potential investors and Tokyo business chambers, as well as meet-and-greet sessions with various industry captains.
The one-to-one meetings, and meet-and-greet sessions served to enhance the investment momentum between Malaysian and Japanese companies. During these sessions, Japanese C-suites and top management were briefed about current and future investment opportunities in Malaysia and received assurances from the Government of Malaysia on the necessary investor support and assistance.
At the invitation of Nikkei Inc., YAB Prime Minister Dato’ Sri Ismail Sabri Yaakob attended the 27th International Conference on The Future of Asia, an annual gathering of political and economic leaders and captains of industry from the Asia Pacific region. He delivered a keynote address on the theme “Redefining Asia’s role in a Divided World.”
The conference provided a platform for Malaysian government officials and Japanese business leaders to share ideas and engage in initiatives aimed at greater economic cooperation between countries in the region.
During the official working visit, MIDA witnessed the handover of the incentive approval letter to Japanese semiconductor giant, ROHM-Wako during a private meeting with the Prime Minister.
ROHM-Wako Electronics (Malaysia) Sdn Bhd (RWEM) is expanding its electronic components facility in Kelantan. Valued at RM910 million, the investment is expected to create high-skilled jobs for over 340 Malaysians and is RWEM’s single largest investment. The facility in Kelantan is another boost to Malaysia’s regional leadership position as a key hub for the semiconductor and automotive global value chains.
During the working visit, Senior Minister YB. Dato’ Seri Mohamed Azmin Ali exchanged a Memorandum of Cooperation (MoC) with his Japanese counterpart, Trade and Industry Japan (METI) Minister of Economy Koichi Hagiuda. The MoC aims to strengthen, promote, and develop stronger Malaysia-Japan collaboration in the aircraft industry. The exchange ceremony was witnessed by YAB Dato’ Seri Ismail Sabri Yaakob and his counterpart, the Prime Minister of Japan, His Excellency Fumio Kishida.
As an organisation serving domestic and global stakeholders with over 50 years of experience, MIDA will continue attracting high–technology and high–quality investments as Malaysia’s economy rebounds post-pandemic. The country’s well-diversified economy offers an established local supply chain that is comprehensively integrated with multiple global value chains to prospective investors to grow and expand their business portfolios. Malaysia and Japan are keen to explore further trade and investment collaborations, especially as both are signatory members to the Regional Comprehensive Economic Partnership (RCEP).