InvestKL secures a total of RM21.52 billion in FDI

Agency delivers another record year; attracts RM2.79 billion investments in 2022

Kuala Lumpur (16 March 2023): InvestKL has secured a total of RM21.52 billion in approved and committed investments since 2011.

This was achieved through the establishment of over 120 global services hubs, which led to the creation of over 19,000 high skilled jobs for Malaysians, of which 94% are on an average monthly executive salary of RM13,000.

In 2022, InvestKL delivered another record year, attracting investments valued at RM2.79 billion. This is a 13% year-on-year increase from RM2.46 billion in 2021, making 2022 the best performing year since the agency’s inception in 2011.

Secured against a backdrop of global challenges, these investments demonstrate that InvestKL has successfully positioned Greater Kuala Lumpur as a preferred investment destination, underpinned by strong economic fundamentals, solid business propositions, enhanced ease of doing business, robust digital infrastructure, and dynamic talent pool.

Minister of International Trade and Industry (MITI), YB Senator Tengku Datuk Seri Utama Zafrul Abdul Aziz said, “MITI has set an ambitious FDI target for 2022. We also need to be more discerning by attracting higher quality and more sustainable investments driven by digital and innovation. We want to spur the creation of higher skilled jobs, with the appropriate knowledge and technology transfer that will foster a more vibrant enabling ecosystem for our local SMEs.“

Congratulations to InvestKL for its 2022 achievement in positioning Greater KL as a business hub for hundreds of leading multinationals. Moving forward, MITI and its agencies stand ready to support the goals of the Malaysia Madani vision of an inclusive, innovative, prosperous, and sustainable economy for the benefit of the rakyat and businesses.”

2022: A story of resilience against a backdrop of uncertainties

InvestKL secured a record FDI of RM2.79 billion in 2022 with the creation of 2,805 high skilled executive jobs through the establishment of 13 global services hubs.

Chief Executive Officer, Datuk Muhammad Azmi Zulkifli said, “2022 is a story of our resilience. The numbers prove that Greater KL has what it takes to be the strategic investment hub in Asia. The types of investments secured are high-impact, high-value, and high-tech. These will equip Greater KL with more technology-driven, innovative, and sustainable offerings to bolster the city’s appeal and ease of doing business. Most importantly, there are significant spillover benefits for the neighbouring states in Malaysia.”

The 13 global services hubs which were established in 2022 are Abbott, Baxter, Estee Lauder Companies, and Tupperware (U.S.), Endava and Informa Markets (UK); Chinasoft International, HONOR and Spectrum Materials (China); Brenntag (Germany); Kering (France); Skylark (Japan); and The Arnott’s Group (Australia).

InvestKL is also positioning Greater KL as an innovation and ideation city through the Greater Kuala Lumpur Live Lab (GKL Live Lab). Launched in 2021 to attract foreign investors to use the city as a testbed for knowledge-intensive and innovative activities in collaboration with local players, the GKL Live Lab has since secured eight key projects covering EduTech, HealthTech, DroneTech, Emerging and DeepTech, FinTech, Data Solutions and MarketingTech.

2023: Targeting high-impact and high-value investments

In 2023, InvestKL aims to secure RM2 billion in high-impact and high-value investments, specifically in the areas of digital economy such as fintech, cybersecurity, and cloud, ideation and innovation, as well as regional centres of excellence, and the creation of 1,500 high skilled jobs.

In line with the National Investment Aspirations targeted at strengthening Malaysia’s foundation in adopting sustainability standards, InvestKL is collaborating with leading global companies and strategic partners towards an added-value programme that will advocate responsible business and sharing of best practices to accelerate the nation’s green agenda.

Azmi added, “We will pursue investors who are aligned with Malaysia’s sustainability agenda. In addition, many of our leading MNCs are making investments in cutting-edge technology to support responsible business growth right here in Greater KL, so we must create an ecosystem which supports their requirements. The spillover is immense so we will continue to work closely with MITI, global companies and partners to position Greater KL and Malaysia as a nexus to achieve ESG and sustainability goals.”

Special recognition for leading MNCs in Greater KL

A total of six MNCs received special awards for their outstanding contributions to Malaysia in two categories from Encik Hairil Yahri Yaacob, MITI Deputy Secretary General (Trade), Datuk Bahria Mohd Tamil, MITI Deputy Secretary General (Investment), InvestKL Chairman, Datuk Seri Michael Yam and InvestKL CEO, Datuk Muhammad Azmi.

The three companies with the highest investment value (RM million) in Greater KL are global chemicals company, Huntsman, leading health and security service firm, International SOS, and global industrial gases and engineering company, Linde.

Meanwhile, leading global professional services company, Accenture, global pharmaceutical company, AstraZeneca, and infrastructure consulting firm, AECOM were recognised as being the top three companies in job creation.

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