InvestKL targets 100 fast-growing companies by 2030

Spur growth in Greater KL & economic corridors

Kuala Lumpur, 6th April 2021 - InvestKL aims to attract 100 of the world’s leading technology and innovation companies to set up their regional services and technology hubs in Malaysia by 2030.

The 10 year strategic plan, anchored on the National Investment Aspiration (NIA).is focused on attracting high quality investments in technology and innovation based activities to catalyse Malaysia’s move towards a high income economy. This move comes as InvestKL, a Ministry of International Trade and Industry (MITI) agency, successfully completed its 2011-2020 (10 year) target of attracting 100 companies to invest in Greater KL (GKL) by last year.

Senior Minister and Minister of International Trade and Industry, Dato’ Seri Mohamed Azmin Ali said these achievements are a testament to foreign investors’ confidence in Malaysia’s strong fundamentals, the country’s investor friendly policies, and continued preferred investment destination.

“Malaysia intends to introduce a new national investment policy to attract more high-quality investors. This new policy is aimed at attracting more attractive to innovative and high-tech MNCs especially those in new digital technologies such as virtual reality and augmented reality, artificial intelligence, blockchain, and 5G,” he added.

“This new policy will complement MyDIGITAL, making Malaysia more attractive to innovative and high-tech MNCs especially those in new digital technologies such as virtual reality and augmented reality, artificial intelligence, blockchain, and 5G. InvestKL will continue to play a strategic role to secure these high potential companies.”

InvestKL Chief Executive Officer, Muhammad Azmi Zulkifli said, “Our new 10-year blueprint to attract 100 fast-growing companies aims to achieve three objectives. Firstly, encourage these companies to bring and share their best practices with us to revitalise the nation’s innovation capacity, especially to build a pool of globally competitive Malaysian talent.

“Secondly, to promote the advantages of investing in the five local economic corridors, and Asia with Greater KL as their strategic regional hub. Thirdly, to collaborate with and boost the growth of SMEs, local businesses and create high-value jobs.”

“Our objectives are based on NIA, with its focus on high-technology and innovation, and is aimed at striking a balance between economic development and environmental sustainability, in line with global ESG (environmental, social and governance) benchmarks,” he also said.

In line with this, InvestKL also unveiled two key initiatives, which are the GKL Live Lab and Fit4Work.Kuala Lumpur (6th April 2021): InvestKL aims to attract 100 of the world’s leading technology and innovation companies to set up their regional services and technology hubs in Malaysia by 2030.

The 10 year strategic plan, anchored on the National Investment Aspiration (NIA).is focused on attracting high quality investments in technology and innovation based activities to catalyse Malaysia’s move towards a high income economy. This move comes as InvestKL, a Ministry of International Trade and Industry (MITI) agency, successfully completed its 2011-2020 (10 year) target of attracting 100 companies to invest in Greater KL (GKL) by last year.

Senior Minister and Minister of International Trade and Industry, Dato’ Seri Mohamed Azmin Ali said these achievements are a testament to foreign investors’ confidence in Malaysia’s strong fundamentals, the country’s investor friendly policies, and continued preferred investment destination.

“Malaysia intends to introduce a new national investment policy to attract more high-quality investors. This new policy is aimed at attracting more attractive to innovative and high-tech MNCs especially those in new digital technologies such as virtual reality and augmented reality, artificial intelligence, blockchain, and 5G,” he added.

“This new policy will complement MyDIGITAL, making Malaysia more attractive to innovative and high-tech MNCs especially those in new digital technologies such as virtual reality and augmented reality, artificial intelligence, blockchain, and 5G. InvestKL will continue to play a strategic role to secure these high potential companies.”

InvestKL Chief Executive Officer, Muhammad Azmi Zulkifli said, “Our new 10-year blueprint to attract 100 fast-growing companies aims to achieve three objectives. Firstly, encourage these companies to bring and share their best practices with us to revitalise the nation’s innovation capacity, especially to build a pool of globally competitive Malaysian talent.

“Secondly, to promote the advantages of investing in the five local economic corridors, and Asia with Greater KL as their strategic regional hub. Thirdly, to collaborate with and boost the growth of SMEs, local businesses and create high-value jobs.”

“Our objectives are based on NIA, with its focus on high-technology and innovation, and is aimed at striking a balance between economic development and environmental sustainability, in line with global ESG (environmental, social and governance) benchmarks,” he also said.

In line with this, InvestKL also unveiled two key initiatives, which are the GKL Live Lab and Fit4Work.

The Greater KL (GKL) Live Lab

The GKL Live Lab programme aims to attract companies to collaborate with local players to elevate GKL’s competitive advantages for quality, innovation-led and knowledge-intensive activities. The initiative aims to create high value jobs, increase economic complexity, extend domestic linkages and improve inclusivity.

“Companies are reviewing their local and global business strategies due to the changes brought by Covid-19. Many are now prioritizing innovation and digitalisation. The GKL Live Lab is a strategic move, an added incentive to encourage companies to commit new or increase their investments in GKL or within the five complementary economic regions,” Azmi also said.

The innovation and ideation focus areas are: driving innovation, accelerating digital adoption, growing local champions, developing digital workforce, and future-proofing Malaysia.

Key industry sectors for local and MNC collaborations are: technology products and services; medical technology, autonomous vehicle mobility; pharmaceutical or medical testing and clinical trials; R&D, design and development; deep and emerging technology; and environmental, social and corporate governance (ESG).

Two high-tech companies Signify, a world leader in lighting for professionals, consumers and lighting for the Internet of Things, and Canbot, robotics are amongst the first few MNCs to take part in the Greater KL Live Lab programme. Both companies have inked a Memorandum of Agreement (MoA) respectively to seal their collaboration with InvestKL.

Fit4Work - Enhancing skillsets of graduates

“Fit4Work will benefit a minimum of 400 graduates within two years. The programme aims to increase the quality and competitiveness of young graduates, with potential job placements with MNCs, GLC and large companies within the services industry.” Azmi said.

There will be four cohorts of 100 participants each of which two cohorts will be trained yearly. Each group will undergo a three-month programme in four core areas: management skills, knowledge skills, essential skills and IR4.0 business skills. Participating companies will provide the industry exposure and training.

Graduates employed by these companies would be offered a minimum employment period of a year. The government under the PERKESO initiative will provide hiring incentives (Apprentice) to the participating companies.

The Fit4Work initiative by InvestKL is supported by local universities. Pilot project partners for the first cohort are University Malaya and Universiti Putra Malaysia.

10 Years in review: 2011-2020

Azmi said, “We have successfully achieved our milestone of 100 corporations by 2020. We ended the year by securing 103 high growth companies in various industries in line with the nation’s key economic growth areas. Investments totalled RM15.8 billion while 14,111 regional executive jobs were created.”

To date, some RM11.4 billion or 72% of the committed investment have been realised. A total of 10,411 or 74% of the committed jobs have been filled. 8,646 Malaysians are currently employed in these high value jobs. (Please refer to the table below).

He also said, “Despite a challenging business environment due to Covid-19 last year, we attracted 12 fast-growing companies with RM1.73 billion of investments. These companies in e-commerce, digital solutions, artificial intelligence and machine learning, robotics, and other key areas have committed to create 1,527 executive jobs. Malaysians are given the highest priority for employment in these strategic jobs.”

Of the 12 companies which invested in Malaysia in 2020, more than 65% are from Europe, US and Japan. These companies include ALD Automotive (France), Alcon (Switzerland), Baozun (China), Elanco (US), Hapag-Lloyd (Germany), Kamstrup (Denmark), Meiko (Germany), PCCW (China), Ricoh (Japan) and Taisei (Japan).

He added that he is optimistic these companies are well placed in Malaysia to capitalize on the economic recovery. The World Bank Group has projected a global growth of four per cent, and a range of between 5.6 and 6.7 per cent for Malaysia this year, on the sustained progress in the vaccine rollouts that will boost consumption worldwide.

InvestKL CEO, Muhammad Azmi Zulkifli