Kuala lumpur: The Malaysian Investment Development Authority (MIDA) and global banking subsidiary MUFG Bank (Malaysia) Bhd have entered into a strategic partnership to accelerate high-value investment in Malaysia.

According to BERNAMA News Agency, the memorandum of understanding (MoU) between MIDA and MUFG Bank focuses on attracting global investment in sectors such as semiconductors, speciality chemicals, aerospace, pharmaceuticals, medical devices, electric vehicles, digital sectors, and green technology.

Chief executive officer (CEO) Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid highlighted the partnership’s role in strengthening Malaysia-Japan economic ties, stating that the strategic alliance will promote investment opportunities in competitive sectors by facilitating bilateral investment. The collaboration aims to leverage extensive business networks and ecosystems to foster joint ventures and strategic partnerships between Malaysian and Japanese companies.

MIDA and MUFG Malaysia will work together to position Malaysia as a welcoming destination for Japanese investors, through events and outreach activities that support mutual engagement. MIDA noted that the partnership marks a significant milestone in Malaysia’s journey towards becoming a leading innovation hub in Southeast Asia, aligning with the recently announced 13th Malaysia Plan.

Meanwhile, MUFG Malaysia CEO and country head Motohide Okuda stated that the MoU reflects a shared vision to support Malaysia’s economic growth. The bank aims to leverage its global network to promote high-quality inbound investment from global and Japanese corporates, contributing to Malaysia’s sustainable development and long-term success.