Japanese carmaker Suzuki has announced plans to boost the electrification of its production with a Y2tn ($15bn) investment in research and development, plus another Y2.5tn set aside for new capital expenditure to be deployed by 2030, the company said in a statement on January 26.
This comes as Japanese and Korean carmakers ramp up efforts to compete with their electrically-advanced European and US counterparts.
Korean Hyundai announced the same day that it would invest $8.5bn in electrifying its fleet, and Japan’s Mazda Motor Corp committed $10.6bn in November to the same.
Macau gambles on gambling – and wins
Home to one of the world’s largest gaming industries, ‘golden goose’ Macao has bagged $3.8bn in commitments from US casino and resorts firm Las Vegas Sands over the next 10 years to build two new luxurious hotel towers, the US firm confirmed on January 25.
Sands promised a new 18,000-square-metre facility and the redevelopment of its 50,000-square-metre ‘Tropical Garden’, as well as a future Macao Heritage Carnival.
Asia-Pacific has long been the most popular destination for entertainment FDI projects. But despite Macao’s reputation for mainly garnering FDI receipts via its tourism and gaming sectors, 92% of the new investment will go towards non-gaming facilities, Las Vegas Sands said in a meeting with investors on January 25. Its government has been seeking a more diverse FDI base as far back as 2013.
Italy to deepen Malaysia ties
Malaysia’s investment development authority (MIDA) said it expects Italian companies to invest RM3.25bn ($765m) in the country from 2023 onwards.
Following a visit to Italy by Malaysia’s minister of international trade and industry Tengku Zafrul Aziz, MIDA issued a release on January 24 saying the investment from Italy would go towards the country’s chemical industry, green technologies, e-economy and smart technologies.
Italian firms invested $342m in Malaysia in 2022, compared to $37m and $43m in 2019 and 2021, according to figures from greenfield investment monitor fDi Markets.
Bringing Italian investment to the country is “vital”, MIDA’s release said, to transfer tech know-how and emerging green technologies to Malaysia’s workers.