KUALA LUMPUR, Dec 14 — Japan and Malaysia are poised for a stronger economic relations in the future, said Ambassador of Japan to Malaysia, Hiroshi Oka.
He said Japan was the fourth largest trading partner of Malaysia last year and was the largest source of foreign direct investment to Malaysia, accounting for one-third of total investments.
“So there is solid basis for business relations between Japan and Malaysia.
“There are good prospects that this good relationship would be further strengthened,” he told a press conference after witnessing the signing of memorandum of understanding between SIRIM Bhd and Hitachi Asia (M) Sdn Bhd held virtually today.
On prospects, Oka said Malaysia was in a good position to attract foreign companies, including Japanese companies, to expand their supply chain base into the country.
He said in view of COVID-19 pandemic, the supply chain needed to be strengthened and one of the ways was through diversification of production base.
“Rather than concentrate on one place, we need to diversify the production base in order to make the overall supply chain less vulnerable to unexpected outside crises,” he added.