Greater KL: Top Investment Destination

InvestKL has successfully attracted RM1.92 billion in new investments with 1,207 regional jobs in the first half of 2021, reinforcing the appeal of Greater KL as the top choice for multinational corporations (MNCs) to set up a regional base.

InvestKL has secured a total of 7 MNCs during this period, making headway in achieving their year-end target; part of a 10-year strategic plan to attract 100 of the world’s multinationals and fast-growing companies to set up regional services and technology hubs in Malaysia through 2030. The agency under the Ministry of International Trade and Industry (MITI) had already completed a similar mission after securing 103 MNCs to invest in Greater KL over the last decade.

InvestKL Chief Executive Officer, Muhammad Azmi Zulkifli said the latest achievement is a testament to Malaysia’s continued appeal to foreign investors as a preferred investment destination despite the disruptions caused by the pandemic, reflecting the country’s solid fundamentals and investor-friendly policies.

“The MNCs coming in this year are involved in various sectors, from financial services, food technology, infrastructure, to data and software solutions provider. They represent a balanced mix of countries and regions including the US, Europe, China, and Japan. These companies will offer regional job opportunities to Malaysians while helping to upskill them.”  

InvestKL also made great progress since the Greater Kuala Lumpur (GKL) Live Lab and Fit4Work initiatives were launched in April this year.

The GKL Live Lab

The GKL Live Lab programme has already secured 3 companies, successfully achieving its target for the year ahead of schedule. The GKL Live Lab initiative aims to attract companies to collaborate with local players to elevate GKL’s competitive advantages for quality, innovation-led and knowledge-intensive activities. The programme intended to create high-value jobs, increase economic complexity, extend domestic linkages, and improve inclusivity.

As companies around the world seek to prioritize innovation and digitalisation as part of their global business review brought about by Covid-19, the GKL Live Lab acts as an added incentive to encourage companies to commit new or increase their investments in GKL and Malaysia.

It is a strategic programme for foreign MNCs looking to collaborate with local companies in the sectors of technology product and services; medical technology; autonomous vehicle and mobility; pharmaceutical or medical testing; research, design and development; deep and emerging technology; as well as environmental, social and corporate governance (ESG) projects. The innovation and ideation focus areas are driving innovation, accelerating digital adoption, growing local champions, developing digital workforce, and future-proofing Malaysia.

Fit4Work - Enhancing Skillsets of Graduates

The Fit4Work initiative has successfully trained 120 graduates in the first half of 2021, making great progress towards the goal of training a total of 160 people this year to help raise the competitiveness of young graduates.

Under the programme, trainees will receive industry exposure and training through potential job placements with MNCs, GLCs (government-linked companies) and major corporations within the services industry after completing a three-month programme that focused on four core areas: management skills, knowledge skills, essential skills and IR4.0 business skills.

Upon successful completion of the programme, participants employed by these companies would be offered a minimum employment period of a year. The government, under the PERKESO initiative, will provide hiring incentives to the participating companies. The Fit4Work programme by InvestKL is supported by public and private universities. Universiti Malaya and Universiti Putra Malaysia are the pilot project partners for the first cohort.

“The GKL Live Lab and Fit4Work initiatives are designed to help revitalise the nation’s innovation capacity and build a pool of globally competitive Malaysian talents to complement the kind of high-value, high-technology and high-growth companies we are aiming to attract. This is in line with the National Investment Aspiration (NIA) that is aimed at striking a balance between economic development and environment sustainability,” Azmi said.    

Since InvestKL’s inception in 2011 until the end of June 2021, RM11.56 billion or 65% of the RM17.73 billion investments have been realised. In addition, 10,850 or 71% of the 15,318 high-skilled regional jobs are already on the payroll, with an average salary of RM10,384.