Anwar’s trip spurs Japan’s RM6.6 billion investment in Malaysia

MALAYSIA said it is attracting RM6.6 billion (S$1.9 billion) in potential investments from Japan following a trade mission led by Prime Minister Anwar Ibrahim.

The South-east Asian nation also expects RM700 million in possible exports to Japan, according to Malaysia’s Ministry of Investment, Trade and Industry. Including the commitments secured from Malaysian trade officials’ trip in June, the total potential investments from Japan this year will reach RM29.6 billion, while anticipated exports amount to RM2.8 billion, the ministry said in a statement on Tuesday (Dec 19).

Anwar had previously said that he expected foreign direct investments from Japan to exceed RM30 billion this year.

The new investments will focus on Malaysia’s “target sectors,” including renewable energy, electrical and electronics, chemical and digital economy, Malaysia’s Trade Minister Zafrul Aziz said in the statement.

Anwar met with executives from ROHM Wako, NEC and Mitsui during his five-day trip to Japan, according to the ministry. The recent mission took place concurrently with the Asean-Japan Commemorative Summit. BLOOMBERG