Malaysia ready to facilitate Japan's FDI inflows in halal industry - Zahid

Malaysia is ready woo and facilitate Japan's foreign direct investment (FDI) inflows, especially in the halal industry,

Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi said.

He said hence, the government would streamline the FDI inflow process with state governments, local authorities, the Malaysian Investment Development Authority (MIDA), and the Ministry of International Trade and Industry.

This has some bearing on Japan as it will be able to reach the growing world's halal market with the Muslim population expected to hit 2.8 billion by 2050, he added.

Ahmad Zahid, who is on a working visit to Japan, said Japan would also be hosting the Olympics (2020) where athletes from Muslim countries would also be taking part.

"So, they (Japan) need to acquaint themselves with halal certification standards from now onwards," he told Malaysian journalists after holding a closed-door meeting with his Japanese counterpart, Taro Aso, here today.

Ahmad Zahid, who is also Halal Malaysia Council chairman, said Aso, who is also Japan's Finance Minister, expressed his interest to learn about the requirements for halal certification in the food industry.

Aso was also amazed with the halal certification process undertaken by the Department of Islamic Development (Jakim) and the internationalisation by the Halal Development Corporation (HDC), which went far beyond their expectations, he added.

He said thus, Malaysia is ready to send several officers to Japan to help the country learn on the scientific halal aspects, as well as the standard operating procedure in determining halal products and services.

Meanwhile, Ahmad Zahid said Japan was also keen to tap on Malaysia's security countermeasures ahead of the Olympics 2020 as it (Malaysia) has wide-ranging experience in dealing militants and terrorists since the (Malayan) emergency (1948-1960).

"We are not only willing to exchange information, but also ready to provide exposure and training to Japan," he said.

Ahmad Zahid said he also extended the government's invitation to Aso to visit Malaysia next year for the 60th anniversary of Malaysia-Japan diplomatic relations celebration next year.

He said the good relations between the two countries was also translated through Japanese investors' confidence in Malaysia's investment climate and economy and cited a recent A Japanese company's investment in the pharmaceutical and cosmetic industry in Bandar Enstek, Negeri Sembilan.

"Aso also expressed concerns on surplus of deposits in Japan's banking system and its zero rate of return on savings.

"So, this is the right time for them (Japan) to expand their investments abroad and Malaysia will not be missed from Japanese investors' list in their quest to get return of investments," he added.