PM: Japan's interest in halal industry growing

TOKYO: Japanese businesses, for decades among the biggest investors in Malaysia, are expressing growing interest in Islamic finance and the halal industry.
Prime Minister Datuk Seri Najib Abdul Razak (pix) said Malaysia is currently the world's largest sukuk market and also the first country in the world to introduce "Halal Parks" or dedicated halal industrial estates.
Since 2010, these Halal Parks have attracted US$2.36 billion (RM8.8 billion) in investments from United States, Italy, Taiwan and Singapore.
"I am pleased to say that more and more businesses in Japan now seem to be aware of the great opportunities available in Malaysia," he said in his address at a round table meeting with 34 captains of industries here.
He said Malaysia is also increasingly seeing companies from Japan undertaking projects related to advertising and engineering, while active in financial services, with Bank of Tokyo-Mitsubishi UFJ, Mizuho Corporate Bank and Sumitomo Mitsui Banking Corp, among the major players.
Also present at the roundtable meeting was Transport Minister Datuk Seri Liow Tiong Lai, Mikio Sasaki, president of the Japan-Malaysia Economic Association (JAMECA), Malaysian Ambassador to Japan Datuk Ahmad Izlan Idris and presidents and chief executive officers of some of the top Japanese firms.
Najib, who is on a three-day official visit to Japan, said 2014 was a record-breaking year for Malaysia as far as investments are concerned.
The country attracted a total of US$68 billion (RM244.28 billion) in investments, both foreign and domestic, while total trade expanded by 2% to US$445 billion (RM1.598 trillion) in 2014.
The Prime Minister said exports also increased by 2.5% to US$235 billion (RM844.21 billion), while imports rose by 1.4% to US$210 billion (RM754 billion).
Najib said Malaysia's well-diversified economy, low inflation, healthy labour market conditions and sound banking system provided a conducive environment for businesses to flourish.
Hence, he said, now is the right time for Japan to work even more closely with Malaysia, and indeed, Asean, as the country's growth was strong, at 6%.
Najib also said that the second wave of Malaysia's Look East Policy (LEP) would give sharper focus to economic cooperation between both countries, with special emphasis to developing strategic sectors such as high-tech and high-end service industries. – Bernama