Greater Kuala Lumpur, The Regional Headquarters Location For Multinational Companies In Asia
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InvestKL: More Malaysians moving up the ranks in MNCs as businesses mature

InvestKL is targeting to secure investment from 13 MNCs this year to realise its mandate to attract 100 global firms by 2020

By SHAHEERA AZNAM SHAH / Pic By ISMAIL CHE RUS
More local talents are expected to move up to high-ranked jobs in multinational corporations (MNCs) as businesses mature in the country over the years, said InvestKL Corp CEO Datuk Zainal Amanshah.

Zainal said 11,693 regional highskilled jobs were created out of the MNCs’ investments through InvestKL in the country, of which 64% or 7,516 jobs have been on the payroll so far.

“We can see that skilled jobs and high-ranking positions are being created, but are being filled in by expatriates as they (companies) would prefer to bring in their expertise due to experience, and because they want to hit the ground running.

“But there will be more senior management positions to be filled by Malaysians as the companies are keen to develop local talents in the (current) period of time,” he said.

Zainal said a survey conducted by InvestKL revealed that 80% of realised jobs went to Malaysians, who hold most of the junior and senior executive positions, as well as managerial positions, while the remaining 20% were occupied by expats.

However, he added that local talents are expected to be moving up the ranks and fill in the high-level managerial positions as the MNCs’ businesses start to mature in Malaysia.

InvestKL is targeting to secure investments from 13 MNCs this year, in its efforts to realise its mandate to attract 100 global firms by 2020.

“We aim for companies from the US, China, the European Union, the UK, Japan and South Korea to invest in Malaysia, while focusing on the smart technologies, consumer technologies, e-commerce, medical devices, industrial automation, as well as energy and renewables sectors,” Zainal added.

“Our main focus is the Industry- 4WRD initiative, the blueprint which has been put forward by the government to drive the manufacturing and services sectors as we go along the market,” he said at a media briefing in Kuala Lumpur yesterday.

Zainal also said global companies, which have been investing in the country, appreciate the economic reform initiatives implemented by the current government.

“The various strategic reforms that our government are undertaking today — in terms of transparency, procurement and removal of corruption — have been very well received by our investors.

“As rule of law and stability are very important factors to the businesses, the reforms have been met positively by our investors,” he said.

On the investment movement in the country, InvestKL chairman Datuk Seri Michael Yam said MNCs have been showing confidence in long-term investments in Malaysia compared to the short-to-medium term.

“The recent announcement of Malaysia’s investment value shows that people are looking at long-term investments in the country.

“According to the type of investments that we have brought in, investors are putting money for long-term operations for as long as 30 years,” he said.

As of December 2018, InvestKL has secured 78 MNCs since its inception in 2011, with approved investments of RM11.7 billion, of which 57% or RM6.63 billion have been realised.

Zainal said for 2018, the investment agency has attracted 12 companies with approved investments of RM2.3 billion.

“Between 2011 and 2018, RM6.63 billion or 57% of the RM11.7 billion investments have been realised.

“Despite a slower world economy, our investment remains resilient as the decisions are made for a longer period,” he said.

The 12 companies, which have established their regional hubs and headquarters, are Electrolux (Sweden), MetLife (US), PersolKelly (Japan/US), Orange (France), Accenture (Ireland), Ernst & Young (UK), China Pacific Construction Group, Zalora (Germany), PicklesAuction (Australia), Wood (UK), United Imaging (China) and Bertling (Germany).
Source: The Malaysian Reserve