18 Japanese companies invest over RM15 billion in Sarawak in the last 5 years
Awang Tengah (centre) together with Azman (third left), Mikio (third right) and other guests of honour at the opening of the conference.
KUCHING: Sarawak has been receiving investments exceeding RM15 billion from 18 Japanese companies over the past five years, mainly in industries under the Sarawak Corridor of Renewable Energy (SCORE).
The investments in oil and gas industry, timber-based products, electrical and electronics industry and recently, manufacturing of polycrystalline silicon have made the state a significant trade partner with Japan.
According to Second Minister of Resource Planning and Environment Datuk Amar Awang Tengah Ali Hasan, the state’s export to Japan last year was RM43.6 billion, or 40 per cent of the state’s total export.
“On the other hand, imports from Japan made up 4.6 per cent, or RM1.8 billion, of the state’s total imports.
“Japan was among the major importers of the state’s timber products which accounted for nearly 40 per cent or RM2.78 billion of the total earnings of RM7.16 billion last year,” he added.
Awang Tengah was speaking at the 33rd Malaysia-Japan Economic Association (Majeca)/Japan-Malaysia Economic Association (Jameca) Joint Conference at Hilton Hotel here yesterday.
Based on the Malaysia Investment Development Authority records, he said Sarawak was among the top four destinations for foreign and domestic investments to Malaysia since 2008.
Meanwhile, Jameca president Mikio Sasaki in a press conference after the event said Sarawak was poised to receive more investments from Japan as the state was able to provide competitive electricity cost from its hydro dams.
“We feel that Japanese investors particularly, should pay more attention to Sarawak and we would like to further learn what is available here and what opportunities lie for Japanese companies,” he said.
He added that investments in the halal industry was also picking up in Japan, and believed that it was among the new sectors which should be given attention to.
Delegates to the conference, among others, were briefed on business opportunities in SCORE and resource-based industries in Sarawak by the State Planning Unit, and a presentation on investing in SCORE by an investee company, Cahya Mata Sarawak Berhad.
The conference was attended by a high level Japanese delegation comprising senior advisors, chairmen, chief executive officers and managing directors of leading Japanese companies led by Mikio, a former chairman and senior advisor of Mitsubishi Corporation.
Among others present were Majeca president Tan Sri Azman Hashim, Majeca deputy president Datuk Seri Mohamed Iqbal and Japanese ambassador to Malaysia Dr Makio Miyagawa.