Japanese companies sees investment opportunities in ASEAN power grid initiative

KUALA LUMPUR: Japanese companies have expressed their interest in supporting and investing in the ASEAN Power Grid (APG) initiative, which, among others, includes the proposed submarine cable project connecting Sarawak and Johor.
Japanese Ambassador to Malaysia, Noriyuki Shikata said that to further elevate trade and economic cooperation between Japan and Malaysia, Japanese companies are also eyeing green investment opportunities and hydropower-related projects in the country.
He noted that both countries can benefit from the Asia Zero Emission Community (AZEC), which is a platform for cooperation to achieve carbon neutrality and net-zero emissions in the Asian region.
'More Japanese companies are interested in coming to Malaysia -- for example, Sabah for green investments, and Sarawak for its huge hydropower potential.
'Japanese companies can contribute by introducing new technologies such as making use of hydrogen, ammonia, and carbon capture, utilisation and storage (CCUS),' he told Bernama after his appearance on BernamaTV's 'The Nation Diplomatic Dispatch' programme, which is aired today.
Shikata added that Japanese companies are also looking into investing in Malaysia's booming data centre industry.
Malaysia's food and beverage industry is also an attractive investment avenue for Japanese companies, he said, estimating that there are over 2,000 Japanese restaurants in the country.
He noted that Malaysia has been attracting food-related investments, supported by the nation's halal certification regulation.
'One example is Ajinomoto Malaysia Bhd, which has a factory near the Kuala Lumpur International Airport (KLIA). They are 100 per cent halal, and I understand that about 40 per cent of their products are exported to the Middle East and 10 per cent are exported to Japan.
'As more and more Malaysian tourists come to Japan, there is a higher expectation for Japanese restaurants in Malaysia,' he added.

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