Strengthening Bilateral Ties: YAB Dato’ Seri Anwar Ibrahim, Prime Minister of Malaysia, led a working visit to Tokyo, Japan

In a significant stride towards bolstering economic ties, YAB Dato’ Seri Anwar Ibrahim, Prime Minister of Malaysia, led a working visit to Tokyo, Japan, from 16 to 18 December 2023, coinciding with the ASEAN-Japan Commemorative Summit. This strategic move aimed to build upon existing economic partnerships and attract potential investments.

Japan holds a significant position as Malaysia’s top five investor, with a total approved investment of RM11.2 billion from January to September 2023. Notably, approved foreign investment (FI) constituted 55.9% of the total at RM125.7 billion, reflecting Japan’s influential economic influence in Malaysia.

During the working visit, Prime Minister’s efforts bore fruit with secured potential investments totaling RM6.56 billion, complementing the RM23 billion from the previous Malaysian delegation’s visit in June 2023. The cumulative potential investments of RM29.56 billion underscore the robust economic collaboration between the two nations.

Facilitated by MIDA Tokyo, the visit, included one-on-one meetings with key Japanese companies such as Rohm Wako, NEC Corporation, and Mitsui & Co. These meetings explored opportunities for collaboration in semiconductor investment, digitalisation, subsea cable services, Carbon Capture and Storage (CCS), healthcare, and digital investments in Malaysia.

A roundtable meeting convened 25 Japanese companies from various sectors such as electrical and electronics (E&E), automotive, machinery, healthcare, green energy, trading, banking, and small and medium-sized corporations (SMEs). Mr. Taro Shimada of Toshiba Corporation, Mr. Koshiro Kudo of Asahi Kasei, Mr. Nobuhiko Murakami of Toyota Tsusho Corporation and Mr. Kunio Yamada of Rohto Pharmaceutical were among the figures who participated, with the Prime Minister shedding light on Malaysia’s National Energy Transition Roadmap (NETR) and the New Industrial Master Plan (NIMP) 2030. The positive response from Japanese industry leaders reflects the allure of Malaysia as a strategic investment destination, especially given both nations’ shared commitment to achieving net zero emissions by 2050.

Parallel to the official visit, the Ministry of Investment, Trade and Industry of Malaysia (MITI) organised investment meeting with Miyoshi Oil & Fat Co., Ltd., exploring their first facility outside of Japan in oleochemical-related activities. Discussions with Nichicon Corporation focused on collaboration in electric vehicle (EV) components, showcasing the diversification and depth of potential investments.

This successful visit not only cements economic ties but also sets the stage for enhanced collaboration between Malaysia and Japan, propelling both nations towards a sustainable and mutually beneficial future.