PUTRAJAYA: New investments from Japan are expected to flow into the country while Japanese investors already in Malaysia will reinvest in their existing operations, which was strong evidence that investors had utmost confidence in the new government.
International Trade and Industry Minister Datuk Ignatius Darell Leiking said Japanese confidence has heightened because of Prime Minister Tun Dr Mahathir Mohamad’s close relations with the Japanese government while diplomacy and cooperation has been intensified by Foreign Minister Datuk Saifuddin Abdullah who accompanied the premier on a working visit to Japan recently.
Dr Mahathir visited Japan thrice since taking over office as prime minister in May 2018.
“MITI also received feedback, following the trip, that Japan will not only channel new investments to Malaysia but expand their existing investments in the country,” he told reporters after attending the Foreign Ministry Inter-Agency Meeting here.
Besides, Darell said the chairman of major Japanese companies already operating in Malaysia have assured him that their existing investments here would be stepped up as they believed in the new government headed by Dr Mahathir.
He also disclosed that the prime minister’s visits has lured in several billion ringgit worth of value-added investments to Malaysia from some of the leading companies in the Land of the Rising Sun.
Among them is Japan Lifeline which would make Malaysia its supply base in Southeast Asia and Mitsubishi which was evaluating the potential of reinvesting in the country after seeing the successful collaboration between Daihatsu and Perodua,” he said.
As for medium-sized Japanese companies, Darell said they were also very aggressive in investing in Malaysia as they were aware that the country can serve as a hub in the region, he said.
“Besides, we have been reminded by the Prime Minister to not only look at investment numbers but also the value of technology that is being brought into Malaysia,” he added. — Bernama