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Malaysia secures RM1.45bn worth of potential investments from Japan

Malaysia secures RM1.45bn worth of potential investments from Japan

A total of 2,810 manufacturing projects with Japanese participation have been implemented as of 2023, resulting in 344,120 job opportunities created.

Malaysia's Ministry of Investment, Trade and Industry (MITI) has secured RM1.45bn of potential investments, and RM550mn of potential exports, through meetings with Japanese companies in conjunction with Prime Minister Anwar Ibrahim’s recent working visit to Japan.

The meetings were led by the Prime Minister himself, accompanied by Minister of Investment, Trade and Industry, Tengku Datuk Seri Utama Zafrul Abdul.

According to MITI's statement, several of the projects will be implemented within a three-year time frame to help Malaysia create a strong eco-system in the semiconductor, renewable energy and green technology areas — a few of which are aimed at achieving Malaysia’s carbon-neutrality target by 2050. The companies met with on the visit include IHI Corporation, Nisshin Oillio Group, Tokuyama Corporation, Sumitomo Corporation, ENEOS Holdings, Mitsubishi Corporation, and Tokyo Gas.

Tengku Zafrul stated: "We welcome expansion projects announced by existing Japanese investors across various strategic sectors namely, semiconductors, chemicals and petrochemical, renewable energy, oil and gas, as well as palm oil and palm oil-based products.

"Such projects reflect the Japanese investors’ continued confidence in Malaysia’s industrial landscape, which is undergoing key transformative initiatives as outlined in the New Industrial Masterplan 2030 and the National Energy Transition Roadmap.”

In 2023, Japan was Malaysia's fourth-largest trading partner and the fourth largest investor in the manufacturing sector. A total of 2,810 manufacturing projects with Japanese participation have been implemented as of 2023, with total investments valued at RM102.11bn, resulting in 344,120 job opportunities created.

With emphasis on sustainable development and high-end manufacturing activities, MITI said that together with its agencies, Malaysian Investment Development Authority and the Malaysia External Trade Development Corporation, it hopes to intensify its efforts with Japan to spur more mutually beneficial partnerships. As MITI affirmed, Japanese investors are welcomed to invest in promoted sectors, such as semiconductor, aerospace, chemicals and petrochemicals, digital economy, E&E, pharmaceuticals, green technology and renewable energy.

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Lead image / Minister of Investment, Trade and Industry, Tengku Datuk Seri Utama Zafrul Abdul Facebook

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