MITI: Malaysia secures RM9.3bil investments from Japan
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Loading... - Putri Rahman
- 07 Sep 2022
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Malaysia has secured investments worth RM9.3 billion via the latest Trade and Investment Mission (TIM) to Japan led by Senior Minister of International Trade and Industry Datuk Seri Mohamed Azmin Ali.
In a statement, the Ministry of International Trade and Industry (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 Corporation, NTT Corporation and KOA Corporation.
"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, RM300 million 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 Corporation and ADEKA Corporation,” it said.
Japan is one of Malaysia’s top sources of foreign direct investment (FDI) in terms of implemented manufacturing projects, with a total investment value of US$688 million (RM3.03 billion) 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) Japan where they discussed a wide spectrum of areas. Read More...
