TOKYO: The Malaysian delegation to Japan has secured RM1.4 billion in potential investments and RM550 million potential exports from the country, said Prime Minister Datuk Seri Anwar Ibrahim.
At a press conference here, Anwar said this when elaborating on his bilateral meeting with Japanese Prime Minister Fumio Kishida yesterday afternoon.
He said the investments cover projects in Peninsular Malaysia, Sabah and Sarawak.
"The new investments will require further discussions with the Investment, Trade and Industry Ministry (MITI) and relevant agencies because they relate to the environment.
"We are firm in matters pertaining to the environment," he said, adding the details will be announced later.
Yesterday, Anwar also met the heads of seven of the largest companies in Japan in a series of one-on-one meetings.
Later, Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz told reporters that the meetings with the Japanese conglomerates involved six companies that already have a presence in Malaysia and one company looking to invest in the country.
He said company looking to invest in Malaysia is from the semiconductor industry. The name of the company will be announced at a later date pending the necessary approvals.
The rest of the companies announced intentions to commit to new investments in Malaysia, particularly in new and renewable energies, he said.
"Investments into renewable energy can touch RM40 to RM50 billion over a 10 year period."
On the potential exports, Tengku Zafrul said these involved upstream and downstream palm oil products.
"Hopefully our trade with Japan will increase this year. Last year trade with Japan stood at around RM35 billion."
One third of this involves liquefied natural gas.
He said investments into Sabah and Sarawak will removal around hydrogen, renewable energy and the electric and electronic sectors.
"Many companies in the semi-conductor industry want green energy supply and they see the potential in Sarawak."
On the requests from the Japanese companies, Tengku Zafrul said they wanted tax incentives.
"These are new sectors so they need support in terms of subsidies and tax incentives."
He said the government will carry out a cost-benefit analysis before deciding on any incentives for the sectors.