Malaysia-Japan trade set to rise this year

: Malaysia’s trade with Japan is expected to increase this year, bolstered by investments particularly in the semiconductor and renewable energy sectors, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.

Tengku Zafrul said Malaysia has been providing Japan with a secure supply of energy and is now focusing on renewable energy.During Prime Minister Anwar Ibrahim’s working visit to Japan from May 22 to 24, 2024, Malaysia secured RM1.45 billion in potential investments and RM550 million in potential exports from meetings with Japanese companies.

Tengku Zafrul said one of the companies planning to invest in Malaysia is from the semiconductor industry. The company’s name will be announced later pending necessary approvals. He also mentioned that the government received tax incentive requests from Japanese companies and will conduct a cost-benefit analysis before deciding on any incentives for the sectors.

Source: Energy Industry News (energyindustrynews.net)

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