RM600m MORE JAPANESE INVESTMENTS IN PIPELINE
RM600m to come from 10 firms in 3 industries, says Mustapa
MALAYSIA expects another RM600 million in investments from Japanese companies this year. International Trade and Industry Minister Datuk Seri Mustapa Mohamed said the investments would be from 10 companies that were mostly in the machinery, electronics and chemical industries.
These investments were likely to lift the total value of Japanese investments in the country this year to RM1 billion, he said.
“There has been a strong flow of investments from the Japanese in a cross-section of sectors — manufacturing, finance and infrastructure,” he said at a media briefing after the official opening of the Malaysia Nikkei Business Forum 2017 by Prime Minister Datuk Seri Najib Razak.
Japan is the second-largest foreign investor in Malaysia after Singapore, with investments valued at US$16.6 billion (RM70 billion) as at September.
Japan is also one of Malaysia’s top sources of foreign direct investment in the manufacturing sector.
A total of 2,621 projects with Japanese participation had been implemented, with investments valued at US$27.8 billion as at end of last year.
Najib said Malaysia received substantial investment from Japan this year.
In the first half of this year, the Malaysian Investment Development Authority approved 16 manufacturing projects with Japanese participation worth RM559 million.
Seventy five per cent of these investments are expansion and diversification projects by Japanese companies already operating in the country.
Konica Minolta is an exemplary investor which has chosen Malaysia for its latest state-ofthe-art manufacturing plant in Melaka.
Mustapa said a survey undertaken by Nikkei among the forum participants found that 25 per cent of those surveyed were keen to invest in Malaysia over the next one year while another 13 per cent would do so over the next three years.
More than 500 business leaders took part in the forum themed “The New Era of Asean — Malaysia, the Asian Business Hub”. The forum was held in conjunction with the 60th anniversary of diplomatic relations between Malaysia and Japan.