Japanese businesses to spend USD6.33B in investment in Malaysia
Date
11/5/2023 8:04:02 AM
(MENAFN) According to Malaysian Prime Minister Anwar Ibrahim's announcement on Sunday, Japanese businesses will spend USD6.33 billion in Malaysia this year.
“This year we have a commitment of foreign direct investment from Japan that exceeds RM30 billion (USD6.33 billion). This is very impressive,” Anwar was cited by a regional English daily as stating.
The announcement was made as part of the memorandum of cooperation exchange between Malaysia's Ministry of Investment, Trade, and Industry and Japan's Ministry of Internal Affairs and Communications. This event was attended by the Japanese counterpart, Fumio Kishida.
In addition to this announcement, both parties reached an agreement to establish a branch campus of Japan's Tsukuba University in Malaysia.
In his statement, Kishida affirmed Tokyo's commitment to enhancing cooperation with Kuala Lumpur across various sectors, including defense, security, energy exchange, human resources development, and environmental preservation.
Apart from conducting joint coast guard exercises with Malaysia, Japan will also collaborate on energy transfer initiatives.
Furthermore, through the forthcoming Tsukuba University branch campus set to open in Malaysia in September next year, Tokyo intends to continue its efforts in nurturing human resources, as mentioned by Kishida.
Kishida's visit to Kuala Lumpur, which occurred over two days, marked his first official trip to Malaysia since taking office in 2021. It's worth noting that Japan has held the position of Malaysia's fourth-largest trade partner since 2016.
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