Trade missions to Japan, S. Korea attract RM3bil in potential investments

KUALA LUMPUR: Malaysia secured a total of RM2.13bil worth of potential investments from Japan and RM711.4mil from South Korea, following its trade missions to the two countries, says International Trade and Industry Minister Datuk Darell Leiking.

He told the Dewan Rakyat that Malaysia used the "3S" approach, which was to search, seek and secure, during the trade missions that took place between Oct 14 to Oct 21.

"The trade mission has successfully attracted potential investments worth RM2.13bil from Japan, especially in petrochemical, logistics, medical equipment, electrical and electronic, household items and furniture.

"Potential imports were also signed with companies from Osaka worth RM33mil," he told Chan Foong Hin (PH-Kota Kinabalu) during Ministers Question Time.

Turning to South Korea, Leiking said the trade mission there attracted a potential investment worth RM711.4mil, focusing on the chemical, electrical and electronic, household items sectors.

"Potential sales estimated to be worth RM1bil were also made due to a one-to-one business meeting," he said.

The Minister said the trade missions saw the involvement of a total of 91 people, including representatives from the Ministry, companies from the Peninsula, Sabah and Sarawak, the board of Malaysia External Trade Development Corporation (Matrade) and Malaysian Investment Development Authority (Maida), as well as excos from Johor, Terengganu, Malacca and Penang.

He also noted that trade and investment missions would continue next year, focusing on the country's main strategic partners based on focused sectors.

"This include partners from Asean, United States of America, European Union, India, South Africa, Saudi Arabia and the United Arab Emirates," he said.

On the development of the halal industry, Leiking said both Japan and South Korea had shown a keen interest, including in its digital commercial aspect.

"It has now gone beyond just food, and moved towards cosmetics and others.

"I believe the Malaysian Islamic Development Department (Jakim), Malaysia Digital Economy Corp (MDEC) and other relevant agencies will cooperate and improve in the area of digital economy, where we can see products with certified halal certification," he told Datuk Dr Noraini Ahmad (BN-Parit Sulong).

Source: The Star