KOTA KINABALU: Japanese investors have been invited to explore potential stakes in Sabah's renewable energy sector and semiconductor industry.
State Industrial Development and Entrepreneurship Minister Datuk Phoong Jin Zhe said Sabah could offer them a conducive environment.
“We have been working closely with the Japanese Ambassador to Malaysia, His Excellency Takahashi Katsuhiko, and Japanese trade associations, including Jactim and Jetro," he said at the Sabah-Japan environmental, social and governance (ESG) forum here on Friday (June 21).
"Sabah's proximity to Japan positions it as a pivotal player in the journey towards sustainable energy solutions development in the region,” he added.
He said Japan has been a crucial trading partner for the region, and its economic partnership with Malaysia had flourished since the 1980s under the Look East Policy.
"Japan also stands as Sabah's fourth-largest trade partner, accounting for 7.9% of Sabah's total trade,” he said, adding that the state's exports to Japan amounted to RM2.936bil, representing 9.4% of its total exports.
These figures underscore the robust and vital economic relationship between Sabah and Japan, which continues to grow stronger, Phoong added.
He noted that the partnership and investments from Japan are critical as the global supply chain transitions towards energy sustainability and a low-carbon economy.
"Collaboration between Sabah and Japan will be key in leveraging Japanese expertise and technologies to drive innovation and sustainability in various sectors," he said.
