News of investment coming into Malaysia especially when the country is on a recovery path is always a welcomed one, the latest if from Japanese technology firm Taiyo Yuden which has confirmed a RM680 million investment to produce multilayer ceramic capacitors in Kuching.
This investment bodes well for Sarawak which is becoming a new destination for skilled manufacturing, the move by Taiyo will generate 2,000 high-skill jobs.
Taiyo Yuden is already in Sarawak but with this additional investment will position Malaysia as a preferred destination for high tech manufacturing. The expansion is the culmination of a series of active and substantive engagements which began during MITI Ministers Trade and Investment Mission to Japan in April 2021. Its 36,500 square meters facility in Kuching will feature the use of state of-the-art, high-tech equipment and high energy conservation incorporating solar powered roof. These environmentally friendly features will not only enhance production efficiency but also reduce harmful greenhouse impact and are in line with the Environment, Social and Governance values (ESG) under the UNSDG.
Since 1980, Japan has been the largest foreign investor in terms of implemented projects in Malaysia, with total investments valued at RM91.4 billion. As of 2020, a total of 2,761 manufacturing projects with Japanese participation have been implemented in industries such as E&E, chemicals, non-metallic mineral products, and transport equipment.
With the announcement, MITI is confident that in spite of the challenging global economic landscape, foreign direct investments would continue to flow into Malaysia as the Government pushes ahead with initiatives to enhance the business environment and investors’ confidence in Malaysia. With strategic value proposition via the National
Investment Aspirations, companies, foreign and local alike, will be able to grow their businesses to another level and transform as competitive world players.
