Write an article about Invest in Japan, outgoing ambassador tells M’sian firms .Organize the content with appropriate headings and subheadings (h1, h2, h3, h4, h5, h6), Retain any existing tags from Malaysia’s strong ties with Japan are founded on a people-to-people exchange, said outgoing Japanese ambassador Takahashi Katsuhiko.
KUALA LUMPUR: Outgoing Japanese ambassador Takahashi Katsuhiko has urged Malaysia’s manufacturing and technology firms seeking to expand their businesses overseas to invest in Japan.
The envoy said Japan is an attractive investment destination due to its huge market, as reflected by its position as the world’s third largest economy. In 2023, Japan’s gross domestic product was estimated at approximately US$4.21 trillion (RM18.30 trillion).
Takahashi said another factor which Malaysian businesses can take advantage of is the high quality of human resources available in Japan, and the country’s advanced research and development (R&D) infrastructure.
Japan has consistently invested heavily in the sector, and spent an all-time high of 20.7 trillion yen (RM588.5 billion) on R&D in 2023.
“Traditional manufacturing and tech companies in Malaysia will see Japan as a market or base to enhance their activities. There are some success stories already, and we hope more Malaysian companies will come and invest,” he said in an exclusive interview with FMT.
One such success story belongs to the Aerodyne Group. Founded in Malaysia, the company established Aerodyne Japan in 2019 and has been working with Japanese firms to produce drones for sale worldwide.
The envoy said Penang-based semiconductor firm, Pentamaster Corporation Berhad has also successfully ventured into Japan. Having first set foot in the country three years ago, Pentamaster has garnered many new clients, both in the East Asian country and beyond.
“Another area of investment is tourism,” he said.
Takahashi said his government has admitted that a shortage of high-quality hospitality accommodation in Japan has hampered the tourism industry.
This, he said, creates another lucrative area for Malaysian companies to invest in.
Presently, a handful of big Malaysian names, including YTL and Berjaya, have invested in several tourism hotspots, namely Hokkaido, Kyoto and Okinawa.
“These types of investments will increase and this is what we’re looking forward to seeing in the immediate future. And I think it will facilitate a further increase in Malaysian tourists,” he said, adding that about 500,000 Malaysians visited Japan annually prior to the Covid-19 pandemic.
Japanese firms keen on Malaysia’s halal sector
On the flipside, Takahashi said Japanese companies are keen to ride on Malaysia’s world-leading halal industry, which is admired for its comprehensive certification system and strong government support.
“The halal industry is attracting a lot of attention from Japanese companies because it is a gateway for business with Muslim countries,” he said.
He said the doubling of Japanese food exports to Malaysia over the last five years prompted Tokyo to set up the Japan Food Export Platform in Kuala Lumpur in May this year.
“This is the first such platform established in a Muslim country, and really demonstrates that Malaysia plays a central role in the Muslim world for the marketing of food.”
He said there was also great potential for more collaboration between Malaysian and Japanese firms in the green and digital economy sectors, and in logistics.
Takahashi expressed confidence that the relationship between Japan and Malaysia will continue to strengthen regardless of who takes over as prime minister of either nation.
This is because those ties are built on “a strong foundation of people-to-people exchange”, supported by Malaysia’s longstanding Look East Policy.
“This policy has been maintained, implemented and further enhanced by the succeeding prime ministers of Malaysia.
“Whoever becomes the next prime minister of Japan, the (good) relations with Malaysia will continue.”
Japan goes to the polls on Sunday.
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