Leiking: Almost RM3 billion investments from Japan, South Korea

KUALA LUMPUR: Trade missions to Japan and South Korea last week attracted investments totalling RM2.84 billion, the Dewan Rakyat was told today.

International Trade and Industry Minister Darell Leiking said the trade missions to the two countries took place between Oct 14 and 21.

According to Leiking (Warisan-Penampang), a total of 91 delegates were involved from the ministry, the Malaysian Investment Development Authority, Malaysian External Trade Development Cooperation, state governments and investment agencies from Johor, Melaka, Terengganu, Sabah, Perak, Kedah, Selangor and Penang, as well as companies from the country and state executive councillors from Johor, Terengganu, Melaka and Penang.

“We used the search, seek and secure method in these trade missions. We managed to attract investments of RM2.13 billion from Japan, notably in industries such as petrochemical, logistics, medical instruments, electrical and electronics, home furniture and appliances,” he said, adding that a potential import agreement signed with a company from Osaka totalled RM33 million.

He was responding to Chan Foong Hin (PH-Kota Kinabalu) who had asked about the results of the trade missions to Japan and South Korea.

As for South Korea, Leiking said they managed to generate investments totalling RM711.4 million, mostly centred on sectors such as chemical substances, electrical and electronics, as well as home appliances.

“Potential sales are estimated at RM1 billion, based on one-on-one business meeting sessions,” he added.

Leiking said next year’s trade missions would concentrate on key trading partners and strategic partners from focused sectors.

These include Asean, the US, China, the European Union, India, South Africa, Saudi Arabia and the United Arab Emirates.