Economy, Mıtı, Taiyo Yuden, Investment, Japan, Azmin

Economy, Mıtı

Azmin: Malaysia remains preferred hub for global manufacturers

Azmin: Malaysia remains preferred hub for global manufacturers

24/9/2021 7:31:00 AM

Azmin : Malaysia remains preferred hub for global manufacturers

KUALA LUMPUR: The move by Tokyo Stock Exchange-listed Taiyo Yuden Co Ltd’s subsidiary, Taiyo Yuden (Sarawak) Sdn Bhd to expand its multilayer ceramic capacitors manufacturing facility in Kuching is a testament to Malaysia being a preferred hub for global manufacturers.

In a statement, he said the major investment bodes well for National Investment Aspirations (NIA), which aims to ensure that Malaysia stays at the forefront as a global hub for quality investments.This can be realised through increasing economic diversity, creating high-skill jobs and addressing economic imbalances; in line with the national Shared Prosperity Vision commitment which would enable Malaysia to become a country that achieves sustainable, fair, equitable and inclusive economic growth.

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Mohamed Azmin said Taiyo Yuden’s expansion is the culmination of a series of active and substantive engagements which began during the Trade and Investment Mission (TIM) to Japan in April 2021.He said the company’s 36,500-square metres facility in Kuching will have state-of-the-art, high-tech equipment and high-energy conservation through the incorporation of solar-powered roofs.

"These environmentally-friendly features will not only enhance production efficiency but also reduce harmful greenhouse impact, in line with the environmental, social and corporate governance values as outlined in the United Nations Sustainable Development Goals," he added. headtopics.com

Since 1980, Japan has been the largest foreign investor in terms of implemented projects in Malaysia, with total investments of RM91.4 billion.As of 2020, a total of 2,761 manufacturing projects with Japanese participation had beenimplemented in industries such as electrical and electronics, chemicals, non-metallic mineral products and transport equipment.

Going forward, Mohamed Azmin said Malaysia is confident that foreign direct investments will continue to flow into the country in spite of the challenging global economic landscape, as the government continues to implement initiatives to enhance the business environment and investors’ confidence. - Bernama

Read more: The Star »

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