Look East Policy 40th Anniversary May Bring More Japanese Investment To Malaysia

KUALA LUMPUR, Jan 6 (Bernama) -- Japanese companies are still keen in doing business in Malaysia and it is hoped that the Look East Policy (LEP), which enters its 40th anniversary this year, will draw more Japanese investments. Japanese Ambassador to Malaysia Takahashi Katsuhiko is confident of this scenario given Malaysia's open economy that actively supports investment and international trade. Takahashi said before arriving in Malaysia in Dec 2021 for his posting here, he had visited many Japanese companies back home and most of them were interested to do business in Malaysia. “Actually investment from Japan to Malaysia didn’t decrease even during the COVID-19 pandemic. I hope this year to be another better opportunity for Japanese companies to do business with Malaysia," he said. Takahashi said this to reporters after presenting the conferment of Japanese Decoration, The Order of the Rising Sun, Gold and Silver Star by the Emperor of Japan to Malaysian Public Service Department (PSD) Director-General Mohd Khairul Adib Abd Rahman at Japanese ambassador's official residence here. Malaysia, under the then fourth prime minister Dr Mahathir Mohamad, introduced the LEP in February 1982 with the objective of emulating exemplary Japanese work culture as well as technology expertise in developing the country. Business sentiment among Japanese companies in Malaysia is forecasted to improve in the first half of 2022 based on a survey by the Japanese Chamber of Trade and Industry Malaysia (JACTIM). Meanwhile, the ambassador said the award was conferred upon Mohd Khairul Adib in recognition of his outstanding contribution to strengthening the LEP through people-to-people exchange and cooperation in the field of transportation between Japan and Malaysia. “He also led the dispatch of experts from Japanese railway companies to KTMB in 2018 and 2019, and made efforts to promote the utilisation of services of KTMB by transferring Japanese technology and know-how to Malaysia, thereby strengthened railways cooperation between Japan and Malaysia,” he added. Mohd Khairul Adib in his acceptance speech said he was honoured to receive the award, saying under LEP, about 200 Malaysian Government Scholarship students were being sent to Japan annually. -- BERNAMA