Trade missions to Japan rack up RM29.6bil investment and RM2.8bil export potential

KUALA LUMPUR: Malaysian trade and investment missions to Japan have achieved RM29.6bil of potential investments and RM2.8bil potential exports this year.

The Investment, Trade and Industry Ministry (Miti) said in a statement on Tuesday (Dec 19) that the most recent trade and investment mission to Japan achieved RM6.6bill of potential foreign direct investment (FDI) and RM700mil of potential exports.

“With RM23bil potential investment and RM2.1bil potential exports previously secured from the first mission in June, both missions have secured a total of RM29.6bil potential investment and RM2.8bil potential exports this year.

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

“A roundtable meeting was arranged between our Prime Minister and 25 Japanese captains of industry as well as one-to-one meetings with companies like ROHM Wako, NEC Corporation and Mitsui & Co Ltd,” the statement read.

It further stated that Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz conducted one-to-one meetings with companies including Miyoshi Oil and Fat Co Ltd, Marubeni Corporation, Nichicon Corporation and Itochu Corporation.

Tengku Zafrul was quoted as saying that the potential investment and potential export figures reflect the strong, long-standing, mutually beneficial relationship between Malaysia and Japan in trade and investments.

“What is equally important is that many of these new investments are from our target sectors, including renewable energy, electrical and electronics, chemicals and the digital economy.

“This is in line with our New Industrial Master Plan’s mission and intended outcomes.

“As 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, we are determined to ensure these investments are realised quickly to bring about more opportunities for our small and medium enterprises and better-paying jobs for Malaysians.

“To that end, various investment approvals at Federal and state levels have been expedited through the Investment and Trade Action Coordination Committee, and the Investment Coordination Committee Meeting,” he said.