InvestKL aims for growth in new sectors

16 March 2018 – MALAYSIA strides towards building a strong Digital Economy in Asean, attracting multinational companies (MNCs) and other global businesses in the services and technology

The adoption of emerging technologies is the key driver in future economic growth, as the country moves from a manufacturing and agriculture-based economy to one that is highly service-oriented and technology driven.

Malaysia ’s gross domestic product (GDP) figures underscore a trend where the economy is becoming healthier, with growth becoming more broad-based across sectors amid a firm trajectory.

The traditional businesses like oil and gas (O&G), supply chain management, engineering and construction are evolving and sectors such as Internet of Things, Robotics, Big Data Analytics, Artificial Intelligence, Financial technology and E-commerce are seen booming in recent years.

Whether it is the O&G, engineering, FMCG, or the aerospace industry, the focus now is all on digital and innovative services, high tech and Industry 4.0. The emphasis on digital projects is the key focus during the 4th Industry Revolution which signifies Malaysia’s movement towards a strong digitally-driven economy.

Under Malaysia’s National e-Commerce Strategic Roadmap, headed by the International Trade and Industry Ministry, the government aims for e-commerce to contribute 20.8 per cent to the gross domestic product (GDP) by 2020 from 18.2 per cent. To expedite this, the National Industry 4.0 Policy Framework will be launched soon this year.

Datuk Zainal Amanshah

One of the biggest milestone for Malaysia is the Digital Free Trade Zone (DFTZ), spearheaded by The Malaysia Digital Economy Corp (MDEC), which is set to emerge as the region’s leading logistics hub.

The creation of hubs like the regional distribution hub to serve a wider market in Asean will enhance the e-commerce sector and boost digital economy. Recent global leaders like Sports Direct, Givaudan, Air Liquide, AXA and Oracle, setting their global centres of excellence and headquarters in Greater Kuala
Lumpur, is a testament to the digital development.

“With the growth in digital economy, companies are looking at new growth sectors to expand their businesses. Greater KL is an ideal launch pad for the development of new businesses in the region and a preferred logistics gateway to Asean,” said Datuk Zainal Amanshah, chief executive officer of InvestKL.

He said Greater KL has both the soft and hard infrastructure for the development of a regional hub, and this will further boost Malaysia ’s Digital Strategy Roadmap.

InvestKL’s aim is to attract large global MNCs such as Fortune 500 and Forbes 2000 companies to undertake operational headquarters, international procurement centres, regional distribution centres or regional shared services centres in Greater KL - New Straits Times

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