Penang's Investment Mission To Japan Bolsters Trade And Tech Collaborations
GEORGE TOWN, Feb 23 (Bernama) -- Penang’s six-day investment promotion mission to Japan has enhanced trade and investment linkages while reinforcing the state's position as a key hub for high-tech industries.
Led by Penang Chief Minister Chow Kon Yeow and a delegation from InvestPenang, the mission, held from Feb 16-22, saw fruitful discussions with 15 Japanese corporations to foster future collaborations and investments.
A statement issued by the Chief Minister’s office said the meetings focused on several topics key to Penang’s industrial growth, including advancing infrastructure projects such as transportation and utilities to meet the demands of expanding businesses.
“The meetings also focused on addressing global supply chain shifts and the rise of artificial intelligence (AI), which are driving higher demand for Japanese-made equipment and environmental, social and governance (ESG) adoption,” it said.
In the first three days, Chow and delegates visited existing and potential investors in Tokyo and Kyoto, namely Toray, Advantest, Pentax Medical, Renesas, Kobelco, Panac, Japan Lifeline, Canon Electronics, Iwata, Towa, Kyocera, and muRata.
The delegates then travelled to Kumamoto for the remaining two days, where they visited Meistier Corp, Preceed Corp. and Hirata Corp.
InvestPenang also participated as an exhibitor at the Kumamoto Industrial Revitalisation Expo on Feb 20-21, presenting Penang’s investment opportunities, showcasing the state’s offerings, strategic initiatives and thriving industrial landscape as a premier investment destination.
Chow and the delegates also paid a courtesy visit to the Governor of Kumamoto Prefecture Takashi Kimura, the statement said.
During the meeting, Chow and Kimura exchanged views on the semiconductor industry and explored potential collaboration opportunities to enhance industry resilience and long-term growth for both regions.
“This investment promotion mission to Japan reaffirms Penang’s commitment to fostering strong economic ties with Japanese investors while positioning the state as a key hub for high-tech industries,” the statement said.
Dubbed as the “Silicon Valley of the East”, Penang attracted investments totalling RM31.38 billion in 2024.
-- BERNAMA