KUALA LUMPUR, Oct 23 ― Recent missions to Japan and South Korea could draw as much as RM2.841 billion in foreign direct investments into Malaysia, International Trades and Industries Minister Datuk Darell Leiking said in the Dewan Rakyat today.
He said the missions to the Far East were carried out from October 14 to 21, adding that potential investments from Japan may be as much as RM2.13 billion while those from South Korea could top RM7 million.
“The mission has attracted potential investments of up to RM2.13 billion from Japan, especially in the petrochemicals industry, logistics, medical equipment, electric and electronics, home equipment and furniture.
“For the mission to the Republic of Korea, the potential investment created is RM711.4 million with focus on chemicals, electric and electronics as well as home equipment,” Leiking said during Question Time.
He also said that an agreement has been signed with an Osaka-based company that has an import potential of RM33 million and a sales potential with Korea amounting up to RM1 billion based on a one to one business meeting.
The trade promotion mission saw 91 representatives from Leiking's ministry, Mida, Matrade and excos from Johor, Terengganu, Melaka and Penang as well as state and investment agencies from Johor, Melaka, Terengganu, Sabah, Perak, Kedah, Selangor, Penang and Malaysian companies.
At the same time, Leiking also promised to ensure that the investments will not focus purely on peninsular Malaysia but Sabah and Sarawak will also have their share of foreign investors coming in.
“Sabah has a huge potential investor because they find that the state is strategically located to lower their transportation cost. But we still need to negotiate with the state on getting the best tariff rate for this investor.
“At the same time there are also a few investors interested in Sarawak. In West Malaysia, there are many potential investors who have committed to invest in petrochemicals, electronics and electrics and medical sectors.
“I can't name names but the second largest foaming producer in the world is interested to make Malaysia its production and delivery hub for the rest of South-east Asia,” he said.
Leiking also said that many Japanese and Korean companies were interested in setting up shop here in order to obtain Malaysia's halal certification.
The minister also promised that next year the mission will continue and will focus on Malaysia's primary trading and strategic partners including Asean, the US, China, European Union, India, South Africa, Saudi Arabia and the UAE.
