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

US$6.33 billion in Japanese investment

Japanese companies will invest upwards of US$6.33 billion (RM30 billion) in Malaysia this year, Prime Minister Datuk Seri Anwar Ibrahim announced during the exchange of a memorandum of cooperation between Malaysia's Ministry of Investment, Trade and Industry (MITI) and Japan's Ministry of Internal Affairs and Communications, attended by Japanese Prime Minister 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," — Prime Minister Datuk Seri Anwar Ibrahim

Anwar said the commitment came from Japanese companies already operating in Malaysia, all of which are expanding their local investment "without exception."

Tsukuba University branch campus

Anwar also confirmed agreement to establish a Tsukuba University branch campus in Malaysia, saying the process would be accelerated. He noted that Kishida is a graduate of Waseda University — also the alma mater of the late Malaysian economist and royal professor Ungku Abdul Aziz Ungku Abdul Hamid — and said he had asked Kishida for further support on a dedicated collaboration with Waseda.

Deepening Malaysia-Japan cooperation

Kishida affirmed Japan's commitment to deepen cooperation with Malaysia on defence and security, energy exchange, human resource development, and environmental preservation, including joint coast guard exercises and energy transfer cooperation.

"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," — Japanese Prime Minister Fumio Kishida, through an interpreter

MJIIT refers to the Malaysia-Japan International Institute of Technology.

Source: Malay Mail