Malaysia's Finance Minister Lim Guan Eng has welcomed investments from abroad, especially from Japan, as long as it raises the skills and wages of Malaysian workers, as reported by Bernama.

Speaking at the shareholders’ agreement signing ceremony between the Japan Overseas Infrastructure Investment Corp for Transport and Urban Development (JOIN) and Tasco Bhd, he said this move would improve the competitiveness of the Malaysian economy through the application of new technology.

At the event, Japanese government-private fund JOIN announced the acquisition of a 30% stake in Tasco-Yusen Gold Cold, a cold chain logistics arm of Tasco, for RM125 million. The signing was witnessed by Lim and the Japanese Ambassador to Malaysia Dr Makio Miyagawa.

As such, Lim added that JOIN could be the bridge which connects Malaysian companies to other parts of the world through its global network and direct links to Japan’s largest corporations. In this case, JOIN will share its knowledge and technology which would benefit the country’s cold chain logistics industry.