ID :
211149
Tue, 10/04/2011 - 13:54
Auther :
Shortlink :
https://www.oananews.org//node/211149
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JAPANESE FDI, REINVESTMENT STRONG IN E&E SECTOR: MINISTER
KUALA LUMPUR, Oct 4 (Bernama) -– Investment from Japan has continued to be strong in Malaysia's electrical and electronic (E&E) sector, especially in the form of reinvestment, despite the uncertainties and weakened global growth, says International Trade and Industry Minister Mustapa Mohamed
He said although globally, market sentiment continued to be jittery, the foreign direct investment (FDI) trend from Japan continued to be steady.
"We don’t see any slowing down in trends. It’s steady as we see continuous key interest from Japanese investors, in respect of reinvestment particularly, where existing companies in Malaysia have increased investment,” he said after the Panasonic Scholarship Awards 2011 ceremony here on Tuesday.
He said although Japan’s growth performance was not outstanding, the strength of the yen and increase in cost structure issues faced by Japanese companies in some countries have made Malaysia an attractive destination.
He also said there had been some interest in green technology and solar energy, and urged investors to tap these sectors further.
For the first half of this year, Malaysia wooed RM21.3 billion in FDI, a 76 per cent surge over the RM12.1 billion in the same period last year, a testament that investors were increasingly looking at the advantages Malaysia offers.
Asked on the FDI outlook for the fourth quarter of this year, Mustapa said the momentum is there and Malaysia is on track to achieve the FDI target of RM55 billion this year.
"At this point of time, we don’t see any changes in the FDI trend which we experienced in the first half of this year.
“Now it’s October and at this point of time, the momentum is still there. No changes to the investment target, the target is still the same,” he explained.
Meanwhile, for the upcoming 2012 Budget to be tabled on Oct 7, Mustapa said the ministry hopes to be given a substantial allocation to carry out tasks going forward as well as tax incentives to spur the services sector.
-- BERNAMA
He said although globally, market sentiment continued to be jittery, the foreign direct investment (FDI) trend from Japan continued to be steady.
"We don’t see any slowing down in trends. It’s steady as we see continuous key interest from Japanese investors, in respect of reinvestment particularly, where existing companies in Malaysia have increased investment,” he said after the Panasonic Scholarship Awards 2011 ceremony here on Tuesday.
He said although Japan’s growth performance was not outstanding, the strength of the yen and increase in cost structure issues faced by Japanese companies in some countries have made Malaysia an attractive destination.
He also said there had been some interest in green technology and solar energy, and urged investors to tap these sectors further.
For the first half of this year, Malaysia wooed RM21.3 billion in FDI, a 76 per cent surge over the RM12.1 billion in the same period last year, a testament that investors were increasingly looking at the advantages Malaysia offers.
Asked on the FDI outlook for the fourth quarter of this year, Mustapa said the momentum is there and Malaysia is on track to achieve the FDI target of RM55 billion this year.
"At this point of time, we don’t see any changes in the FDI trend which we experienced in the first half of this year.
“Now it’s October and at this point of time, the momentum is still there. No changes to the investment target, the target is still the same,” he explained.
Meanwhile, for the upcoming 2012 Budget to be tabled on Oct 7, Mustapa said the ministry hopes to be given a substantial allocation to carry out tasks going forward as well as tax incentives to spur the services sector.
-- BERNAMA
