M’sia secures Rm9.3bil investments from Japan

KUALA LUMPUR: Malaysia has secured investments worth Rm9.3bil via the latest Trade and Investment Mission (TIM) to Japan led by Senior Minister of International Trade and Industry Datuk Seri Mohamed Azmin Ali.

The International Trade and Industry Ministry (Miti) said the investments involve the strategic and high potential sectors such as electrical and electronics (E&E), research and development (R&D), biomass, information technology and communication, chemical industry and food.

Among them are new investment projects by Idemitsu Kosan Co Ltd and Euglena Co Ltd, as well as investment expansion and diversification projects by Tosoh Corp, NTT Corp and KOA Corp.

“These investments are expected to generate employment opportunities, skills training opportunities for local workers as well as contribute to the development of local vendors.

“Additionally, Rm300mil worth of potential trade was garnered from this TIM specifically for palm oil and palm oil-related products, halal and food and beverages products from Sumitomo Corp and ADEKA Corp,” it said in a statement.

Japan is one of Malaysia’s top sources of foreign direct investment in terms of implemented manufacturing projects, with a total investment value of Us$688mil (Rm3.03bil) recorded from January to June this year.

According to Miti, Mohamed Azmin had a highly engaging bilateral meeting with his counterpart, Nishimura Yasutoshi, the newly appointed Minister of Economy, Trade and Industry (METI) of Japan where they discussed a wide spectrum of areas.

“In this vein, both ministers exchanged views on the spins-offs and strategic multiplier effects to be derived from the Regional Comprehensive Economic Partnership Agreement, Comprehensive and Progressive Agreement for Trans-pacific Partnership and the Indo-pacific Economic Framework for Prosperity.” — Bernama