A Close Relationship with Japan
Malaysia and Japan have long enjoyed a very close relationship. Over lunch with Japan’s captains of industry, I expressed our gratitude as many Malaysians have benefitted from Japanese investments in our country, over the years.
Japan continues to be Malaysia’s largest source of foreign direct investment in the manufacturing sector. We have had major investments by Rohm-Wako, Rikevita, Nippon Electric Glass and Panasonic.
Japanese companies also have a firm foothold in the services sector. They include investments by the Uniqlo Group, AEON Big, Autobacks, and ISETAN. There are also major Japanese financial institutions such as the Bank of Tokyo, Mizuho Bank and SMBC Bank and insurance companies including Tokio Marine Life and Mitsui Sumitomo Insurance Group.
I also reiterated that Malaysia’s economic fundamentals remain sound with our highly diversified economy and I continued encouraging Japanese investors to look at more investment opportunities in new growth areas especially in the emerging technologies, high technology, capital-intensive, high value-added, knowledge-based, skills-intensive, and export-oriented sectors in Malaysia.