Japanese firms RM23bil investment plans reflect confidence in M’sia

PETALING JAYA: The RM23.07bil worth of potential Japanese investments clinched during the recent trade and investment mission (TIM) reflect the confidence that global companies have in Malaysia’s business ecosystem, according to the Malaysian Investment Development Authority (Mida).

Chief executive officer Datuk Arham Abdul Rahman said Mida welcomed the investment plans by the Japanese companies, which include NHK Spring, CKD Corp, Denso Corp and Omron, in Malaysia.

“As we focus on high technology, innovation, and sustainable industries, including the electric vehicle ecosystem, we aim to create vast opportunities for growth.

“We are committed to fostering strong partnerships and driving sustainable growth, propelling Malaysia’s position as a preferred investment destination,” he said in a statement.

The TIM to Tokyo and Osaka, Japan, from May 29-June 2 was led by Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.

The TIM focused on meeting with companies from various sectors including electrical vehicle (EV)-related components; electrical and electronics; machinery parts and components, environmental, social and governance (ESG), metal and chemical and chemical products.

Mida said NHK Spring, a key player in integrated metal substrates, will expand production in Negri Sembilan to meet the soaring demand for these substrates, which are essential for the electrification of automobiles.

“With the EV industry projected to grow significantly, NHK Spring’s expansion plans align with Malaysia’s efforts to foster a robust ecosystem for EV development.

“The construction of a new plant and facilities is set to be completed by December 2023, reaffirming the company’s commitment to Malaysia since its establishment in Senawang, Negri Sembilan, in 1994,” the agency said.

The expansion further solidifies NHK Spring’s role in metal-based printed wiring board manufacturing and enhances Malaysia’s position in the global supply chain, Mida said.

Meanwhile, Omron has outlined its future business investment plan, focusing on manufacturing products using renewable energy to contribute to a carbon-neutral society in Malaysia. — Bernama

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