MITI to woo Japanese companies seeking to leave China — Azmin

The Ministry of International Trade and Industry (MITI) is identifying Japanese companies seeking to relocate their operations from China that can be invited to invest in Malaysia.

Senior Minister cum MITI Minister Datuk Seri Mohamed Azmin Ali said this followed Japan’s decision to help its manufacturers shift production out of China or relocate their operations to other countries in response to the COVID-19 impact.

“MITI will strive to convince Japanese investors to use Malaysia as a new investment destination, as well as a hub to penetrate the ASEAN market, with ASEAN being home to over 650 million people.

“I believe if Malaysia can provide the best infrastructure, stable politics and
skilled workforce, (and) we can make Malaysia a new investment destination for companies looking for a place to invest,” he told reporters after calling on Kedah Menteri Besar Muhammad Sanusi Md Nor at Wisma Darul Aman here today.

Mohamed Azmin said MITI’s focus was on high-tech industries that would create better employment opportunities for local workers.

“Of course, we no longer want industries that depend on foreign workers, we seek high-tech industries as this will enable our workforce, especially young people the chance to get better jobs and higher incomes,” he said.

On his meeting with the Kedah Menteri Besar, Mohamed Azmin said they discussed Kedah’s investment direction, as well as to ascertain how the state’s manufacturing industry could resume operations at its maximum capacity.

“We also talked about Kedah’s development as several previously approved projects needed to be continued, subject to the country’s financial position.

“We also discussed how we can bring new investments into Kedah, as the state has the potential to attract new high-tech investments that are not dependent on foreign workers,” he said.

Source: Bernama