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InvestKL attracts RM18.3 billion in investments, targets RM35 billion investments by 2030

Kuala Lumpur (24 March 2022): InvestKL has attracted a total of RM18.3 billion in approved and committed investments through the establishment of 116 global services hubs by leading multinationals (MNCs) and fast-growing companies since inception in 2011. This has led to the creation of 16,392 regional executive jobs for Malaysians.

In 2021, RM2.46 billion investments were secured through 13 global services hubs, creating 2,281 regional executive jobs – making it the best performing year for InvestKL in the last decade.

Senior Minister and Minister of International Trade and Industry, Dato’ Seri Mohamed Azmin Ali said InvestKL’s stellar performance is a testament to foreign investors’ confidence in Malaysia’s business ecosystem and in Greater KL as a destination of choice for high-growth, high-impact business activities, making the city an excellent location for the establishment of regional offices and hubs.

This will pave the path for greater trade linkages considering the record-breaking trade performance last year surpassing RM2 trillion, placing Malaysia on a trajectory of growth. The Senior Minister expressed confidence that the country will be able to go to greater heights with MITI redoubling efforts to ensure that Malaysia remains competitive with a new strategy to drive further growth for the digital economy, green technology, the Fourth Industrial Revolution sectors, implementation of the largest Free Trade Agreement, Regional Comprehensive Economic Partnership Agreement (RCEP) as well as enhanced cross-border collaborations on supply chain management.

The Senior Minister iterated that with RCEP entering into force, Malaysia and Greater KL’s strategic location in Asia are poised to further cement their critical role in the global supply chain for services and industries.

GREATER KL; A CHOICE LOCATION FOR TECHNOLOGY AND INNOVATION COMPANIES

Greater KL offers investors an increasingly robust digital and innovation eco-system, a ready testbed, availability of competitive talent and supportive government policies.

These attractive propositions have led to the establishment of 13 global services hubs in 2021. Of these, 60% are from the United States (U.S.), United Kingdom (UK), and Europe while the remaining 40% are from Asia.

The companies are Ingredion, Quantum, VF Corporation and FedEx (U.S.), Hannover Re (Germany), Akzo Nobel (Netherlands), Radius Payment Solutions (UK), Commerzbank (Germany), FWD Insurance and Plaza Premium Group (Hong Kong), Pan Pacific International Holdings Group and Cultural Convenience Club (Japan), and CRCC (China).

Chief Executive Officer, Muhammad Azmi Zulkifli said, “Our pipeline remains strong, and we are well-poised to advance Malaysia’s sustainable agenda by targeting high-level and niche investments, specifically in the areas of digital technology, global services, and innovative offerings.

“We are targeting a total of RM35 billion in investments by 2030, despite the challenges of global economic volatility, rising energy prices and geopolitical uncertainty.”

“Investors want to build a sustainable future while pursuing the Environmental, Social, and Governance (ESG) agenda. They are investing in new technologies that will help them to grow responsibly. We are working closely with the Ministry of International Trade & Industry to position Greater KL as an investment gateway into Malaysia. With over 100 success stories, our facilitation ensures all investors enjoy a swift, smooth, and accelerated investment journey.” Azmi added.

THE GKL LIVE LAB – AN INNOVATION AND IDEATION SMART CITY

Launched in April 2021, GKL Live Lab was developed as a city concept to use Greater KL as a testbed for foreign investors to conduct knowledge-intensive and innovative activities while collaborating with local players. It aims to create high-value and future-ready jobs, as well as deepen the local ecosystem with more sophisticated and complex activities.

The GKL Live Lab has secured five key projects covering EduTech, Healthtech, Dronetech, Data Solutions, and Marketing Tech.

Among the GKL Live Lab companies is a Japanese artificial intelligence (AI)-backed edutech startup, Toybox Creations and Technology (TOY EIGHT). In collaboration with Sunway University and University of Malaya, TOY EIGHT is currently developing an AI-based tool that democratises developmental assessment for pre-schoolers via a smartphone. Designed by an ex-Nintendo game designer, it analyses children at play to understand their characteristics and strengths.

FIT4WORK - A COMPETITIVE TALENT POOL FOR INDUSTRIES OF THE FUTURE

InvestKL’s Fit4Work programme in collaboration with PENJANA, is the only programme in the country catered for fresh university graduates. It is designed to attract and nurture local talent and match future-ready candidates with potential job placements with multinational companies, and large corporations. By the end of 2021, four in five Fit4Work graduates were successfully employed by leading corporations.

Under this programme, graduates will undergo a curated three-month programme that prepares them for the regional services industry, equipped with essential leadership skills required for employment in various industries along the MNCs’ value chain.



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