Ties with Japan to strengthen further
GROWING: Second wave of Look East Policy to be key catalyst
MALAYSIA-Japan bilateral relations is expected to strengthen further under the second wave of the Look East Policy.
The Look East Policy was introduced by former Prime Minister Tun Dr Mahathir Mohamad in 1981 as part of the nation's transformation plan to become a developed country by not only looking to the West such as the US and Europe, but also the East, namely Japan.
"Under the policy, Malaysia has benefited much from Japan and we have made tremendous progress in many fields such as technology and entrepreneurship and I believe Japan still has a lot to offer Malaysia.
"Under Prime Minister Datuk Seri Najib Razak, this policy will continue and we can continue to learn a lot from Japan with the continuation of the policy," Dr Mahathir said here yesterday at the 30th anniversary of the Japanese Chamber of Trade and Industry Malaysia (Jactim).
Meanwhile, speaking at a press conference later, Jactim president Masato Nakamura said the chamber will continue to encourage existing 2,000 Japanese companies as well as new ones to expand their businesses in Malaysia.
"Malaysia, in turn, has to improve its competitiveness compared to other Asean countries - not just invite large or high technology companies but also low-end industries such as the small- and medium-scale enterprises.
He said by capitalising on the strength of Malaysia's halal cer-tification, the chamber proposes to consider investment incen-tives to attract investors for ha-lal-related businesses in Malaysia.