Japanese Firms To Invest $6.33B In Malaysia

Japanese companies will invest $6.33 billion in Malaysia this year, Malaysian Prime Minister Anwar Ibrahim announced on Sunday.

"This year we have a commitment of foreign direct investment from Japan that exceeds RM30 billion ($6.33 billion). This is very impressive," Anwar was "ed by local English daily Malay Mail as saying.

He made the announcement during the exchange of the memorandum of cooperation between Malaysia's Investment, Trade and Industry Ministry and Japan's Internal Affairs and Communications Ministry, which was attended by his visiting Japanese counterpart Fumio Kishida.

The two sides also agreed on the establishment of Japan's Tsukuba University branch campus in Malaysia.

Kishida, in his remarks, affirmed Tokyo's stance to strengthen cooperation with Kaula Lumpur in defense, security, energy exchange, human resources development, and environmental preservation sectors.

Aside from conducting joint coast guard exercises with Malaysia, Japan will also cooperate on energy transfer, he said.

Through the Tsukuba University branch campus, planned to be opened in Malaysia in September next year, Tokyo will continue to contribute to the nurturing of human resources, Kashida further said.

Kashida arrived in Kuala Lumpur on Saturday on a two-day maiden visit to Malaysia since inauguration of his government in 2021.

Japan has been Malaysia's fourth-largest trade partner since 2016. -