DPM invites Japanese to invest in high-tech sector

http://biz.thestar.com.my/news/story.asp?file=/2009/12/7/business/20091207142906&sec=business
TOKYO: Deputy Prime Minister Tan Sri Muhyiddin Yassin invited Japanese multinationals and businesses Monday to invest in Malaysia's high technology, capital intensive, high value-added, knowledge-based and skills-intensive operations, incorporating design and development and research and development (R&D).
He said such quality investments are key to the country's move towards higher level of industrialisation, he said.
Malaysia's priority sectors are electrical and electronics, information and communications technology, machinery and equipment, biotechnology, halal products, services and automotive industry.
"The government is rationalising all research funds and grants to be more effective. Japanese companies focusing on R&D are welcomed to explore and take advantage of opportunities in these areas," he said at a meeting between him and captains of industries and businesses of Japan.
Muhyiddin is in Japan leading a four-day specific trade and investment mission beginning Monday.
Besides Tokyo, he will also go to Osaka.
Present at the meeting were Malaysian Industrial Development Authority (MIDA) Director-General Datuk Jalilah Baba and Malaysian Ambassador to Japan Datuk Shaharuddin Mohd Som.
The meeting is organised by MIDA with Bank of Tokyo-Mitsubishi and Asean-Japan Centre as co-organisers. Among the supporters are Japan Finance Corporation, Japan External Trade Organisation (JETRO), Mizuho Financial Group, Japan Chambers of Commerce and Industry and Japan-Malaysia Economic Association.
Among the companies attending the meeting are Furukawa Electric Co, Japan Silicon Co, Tokyo Yuden Co, Mizuho Corporate Bank, Sumitomo Corp, Toray Industries, Sojitz Corp, Honda Motor Co, Toyota Motor Corp and Sony Corp.
In the automotive sector, he welcomed Japanese investors to explore investment opportunities in the hybrid and electric cars which have large investment prospects in the region.
He said while manufacturing would continue to be the foundation to the Malaysian economy, the services sector was increasingly becoming the main contributor to Malaysia's economic growth.