Phoong touts Sabah Blue Econ to Japan
Published on: Friday, March 15, 2024
Phoong (fifth right) and Takahashi (fifth left), with Japanese business leaders and Ministry officials.
Kuala Lumpur: State Industrial Development and Entrepreneurship Minister Phoong Jin Zhe recently had a highly successful exchange session with representatives from The Japanese Chamber of Trade and Industry, Malaysia (Jactim) and The Japan External Trade Organisation (Jetro).
The meeting at the Japan Embassy in Malaysia here was facilitated by Japan Ambassador to Malaysia Takahashi Katsuhiko, served as a pivotal platform for fostering collaborations between Sabah and Japanese businesses.
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During the meeting, Phoong led a delegation that presented Sabah’s vibrant industrial landscape, emphasising key sectors such as biomass and the Blue Economy.
“The Blue Economy initiative recently launched by the Sabah Government underscores the region’s commitment to sustainable development and ocean-based economic activities,” said Phoong in a statement.
Phoong outlined the abundant opportunities for Japanese businesses to invest and participate in Sabah’s industries.
“The biomass industry, for instance, offers immense potential for sustainable energy production and downstream manufacturing.
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Sabah’s rich biodiversity and strategic location make it an ideal hub for bio-based industries, presenting lucrative prospects for Japanese investors.
“Furthermore, the Blue Economy initiative aims to harness the potential of Sabah’s marine resources for value-added products such as food products,” he said.
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Phoong emphasised the importance of collaboration between Sabah and Japan in advancing this initiative, leveraging Japanese expertise and technologies to drive innovation and sustainability in the maritime sector.
In line with efforts to strengthen ties between Sabah and Japan, he shared plans to organise a business forum in Kuala Lumpur, in collaboration with Jactim.
“This forum aims to provide detailed insights into investment opportunities and the business environment in Sabah, specifically tailored to Japanese businesses stationed in Malaysia,” said Phoong.
The exchange session provided a platform for in-depth discussions and networking opportunities, fostering mutual understanding and paving the way for future collaborations.
Phoong also expressed his appreciation to Takahashi for facilitating the session and commended the active participation of Jactim and Jetro representatives.
The meeting was participated in by Takero Sawamura, President of Jactim, Koichi Takano, Managing Director of Jetro Kuala Lumpur, Katsuhito Horiguchi, Managing Director of Sumitomo Corporation Malaysia Sdn Bhd, and Hiromitsu Narukama, Chairman of the Trade and Investment Committee of Jactim.
Industrial Development and Entrepreneurship Ministry’s Permanent Secretary Datuk Thomas Logijin, Invest Sabah Berhad Chief Executive Officer Dr Firdausi Suffian, Department of Industrial Development and Research (DIDR) Director Tseu Kei Yue and Phoong’s Political Secretary Chan Loong Wei were also present.
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