MIDA in FDI discussions with Japanese, German and US companies

"There are ongoing negotiations. We are confident of securing a few more deals with Japanese, German and American companies," MIDA director-general Datuk R. Karunakaran said after a press conference to announce the setting up of a plant in Malaysia by Japan`s Ibiden Co Ltd.

Recently, US-based SunPower Corporation pledged to invest RM2.2 billion to build its next solar cell fabrication plant in Malaysia.

Asked about the value of projects in negotiations currently, Karunakaran said: "I don`t want to speculate (but) it will certainly run into billions of ringgit."

According to him, the investments involved are high technology-based.

On Japan FDIs in Malaysia, Karunakaran said it has been on the uptrend since 2006 and is expected to remain the same this year.

He said Japanese investments in the manufacturing sector have been increasing significantly since 2003 and registered the highest amount in 2007, with investments totalling RM6.5 billion.

This trend reflected the continued confidence in Malaysia as an offshore location for Japanese multinational corporations, Karunakaran said.

"We hope ...