Japanese Investors Show Keen Interest In Courier Services Sub-Sector

By Massita Ahmad KUALA LUMPUR, April 27 (Bernama) -- Japanese investors have shown keen interest in the courier services sub-sector, one of the 17 liberalised by the government, said Deputy Minister of International Trade and Industry (Miti), Mukhriz Tun Dr Mahathir. He said the courier sub-sector was one, the Japanese had been consistently asking for at various forums such as the World Trade Organisation (WTO) and under the bilateral Free Trade Agreement (FTA), with that country. "We are also in constant discussions with both the Japanese embassy and companies in Malaysia to keep abreast of various issues regarding services," he told Bernama. He was responding to a question via email on whether Japanese investors had shown interest in participating in the 17 services sub-sectors. Mukhriz has been in Sendai and Tokyo from April 25, leading a four-day Asean Economic Ministers Roadshow. The government has further liberalised 17 services sub-sectors in phases this year to accelerate investment. This is also an initiative that will allow up to 100 per cent foreign equity participation in selected sub-sectors. The sub-sectors include private hospital services, medical and dental specialist services, architecture, engineering, accounting and taxation, legal services, courier services, education and training as well as telecommunication services. In 2009, the government had opened up 27 services under eight sub-sectors namely computer and related services, health and social, tourism, transport, sporting and recreation, business, rental/leasing without operators and supporting and auxiliary transport. Before leaving for Sendai and Tokyo, Mukhriz had led a two-day trade and investment mission to Kyoto and Nagoya. Miti said the services sector is overtaking manufacturing as the main contributor to the economy. As the government has targeted the services sector to be the main driver of future growth, projecting the sector's share (inclusive of government services) of gross domestic product (GDP) at 67.3 per cent by 2020), new sources of growth will have to be found, it said. The ASEAN commitment also requires Malaysia to progressively open up the domestic services market to participation from the member countries. The target and timelines that Miti follows are according to the blueprint mapped out to establish the ASEAN Economic Community by 2015. To date, Malaysia has made liberalisation commitments in 96 services sub-sectors at between 49-70 per cent ASEAN equity. -- BERNAMA