THE Investment, Trade, and Industry Ministry (MITI) has announced securing potential investments worth RM1.45 bil and potential exports worth RM550 mil from meetings with Japanese companies during Prime Minister Datuk Seri Anwar Ibrahim’s recent working trip to Japan, stated MITI Minister Tengku Datuk Seri Zafrul Aziz.

Expressing satisfaction with the outcome of the trip, Tengku Zafrul described it as “short but fruitful,” as reported by Bernama.

In a statement, Tengku Zafrul noted that several projects resulting from these meetings are slated for implementation within three years, contributing to the establishment of a robust ecosystem in Malaysia’s semiconductor, renewable energy, and green technology industries.

He underscored the significance of some projects in advancing Malaysia’s aim to achieve carbon neutrality by 2050.

The companies involved in the discussions included IHI Corporation, Nisshin Oillio Group, Tokuyama Corporation, Sumitomo Corporation, Eneos Holdings, Mitsubishi Corporation, and Tokyo Gas.

“We welcome expansion projects announced by existing Japanese investors across various strategic sectors: semiconductors, chemicals, petrochemicals, renewable energy, oil and gas, as well as palm oil and palm oil-based products,” Tengku Zafrul remarked.

He also pointed out that such projects underscore Japanese investors’ sustained confidence in Malaysia’s industrial landscape, which aligns with transformative initiatives outlined in the new industrial master plan 2030 and the national energy transition roadmap.

Furthermore, Japan emerged as Malaysia’s fourth largest trading partner and the fourth largest investor in the manufacturing sector in 2023.

Tengku Zafrul pledged MITI and its agencies - the Malaysian Investment Development Authority and the Malaysia External Trade Development Corporation - to continue fostering mutually beneficial partnerships with Japan.

“Japanese investors are welcome to invest in promoted sectors such as semiconductors, aerospace, chemicals and petrochemicals, digital economy, electrical and electronics, pharmaceuticals, green technology and renewable energy.” - May 24, 2024

https://focusmalaysia.my/miti-secures-rm1-45b-potential-investments-rm550m-exports-from-japanese-companies/