Malaysian PM says Japanese firms to invest US$6.33b, set up Tsukuba University branch in Malaysia

Kuala Lumpur, The Gulf Observer: Japanese companies will invest upwards of US$6.33 billion (RM30 billion) in Malaysia this year, Malaysian Prime Minister Datuk Seri Anwar Ibrahim announced today.

He said this during the exchange of the memorandum of cooperation between Malaysia’s Ministry of Investment, Trade and Industry (Miti) and Japan’s Ministry of Internal Affairs and Communications which was attended by the prime minister of Japan Fumio Kishida.

“This year we have a commitment of FDI from Japan that exceeds RM30 billion or US$6.33 billion. This is very impressive,” he said during the ceremony that was also live streamed on YouTube.

He said the commitment was made to Miti from the Japanese companies that were already investing in Malaysia “without exception” to increase and expand their development here.

“We have of course agreed on the establishment of the Tsukuba University branch campus in Malaysia and will accelerate the process,” he said.

Anwar added that Kishida is from Waseda University, which was also the alma mater of the late Malaysian economist and royal professor Ungku Abdul Aziz Ungku Abdul Hamid.

Anwar said he had also asked Kishida for additional support for a special collaboration with Waseda university.

Kishida affirmed Japan’s stance to strengthen their cooperation with Malaysia with regards to its defence, security, energy exchange, human resources development and environmental preservation issues.

He said apart from conducting joint coast guard exercises with Malaysia, Japan will cooperate on energy transfer.

“Through developing an enabling investment environment, activities of Japanese businesses will be pushed forward.

“Also through the Tsukuba University branch campus, planned to be open in Malaysia in September next year through MJIIT, Japan will continue to contribute to the nurturing of human resources, who are the bearers of the future of Malaysia and thereby further promote people to people exchange between our two countries,” he said through an interpreter.

MJIIT stands for the Malaysia-Japan International Institute of Technology.