InvestKL pulls in RM1.92 billion new investments in first-half 2021

21 Jul 2021 / 23:06 H.

PETALING JAYA: InvestKL has attracted RM1.92 billion in new investments with 1,207 jobs for the first half of this year (H1’21), reinforcing Greater Kuala Lumpur’s appeal as a top location for multinational corporations (MNCs) to set up a regional base.

In H1’21, it has secured investments from seven MNCs, contributing to its year-end target as well as the larger 10-year strategic plan to attract 100 of the world’s MNCs and fast-growing companies to set up regional services and technology hubs in Malaysia through 2030.

Over the last decade, the agency under the International Trade and Industry Ministry has succeeded in securing investments from 103 MNCs.

InvestKL CEO Muhammad Azmi Zulkifli said the achievement is a testament to the country’s continued appeal to foreign investors as a preferred investment destination despite the Covid-19 pandemic disruption, reflecting Malaysia’s 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,” he said in a statement today.

InvestKL highlighted that the Greater Kuala Lumpur Live Lab and Fit4Work initiatives have contributed to its progress this year. The two initiatives are designed to help revitalise the nation’s innovation capacity and build a pool of globally competitive Malaysian talent to complement the kind of high-value, high-technology and high-growth companies it is aiming to attract.

This is aligned with the National Investment Aspiration, which is aimed at achieving a balance between economic development and environmental sustainability.

Since the agency’s inception in 2011 to end-June 2021, it has realised RM11.56 billion or 65% of the RM17.73 billion investment commitments, translating into 10,850 or 71% of the 15,318 high-skilled regional jobs on the payroll with an average salary of RM10,384.

Moving forward, the CEO acknowledged that the challenges ahead are inevitable given the shift in business landscape due to a prolonged pandemic environment as companies reassess strategies and deferring investment plants.

By showcasing Malaysia’s growth and resilience in the next remaining months, he is positive on a return of investor confidence.

“At InvestKL, we have embraced a new era in investment promotion where we continue to engage and connect with potential investors through new ways and actively promote Greater Kuala Lumpur as the ideal location for regional operations and future growth,” Muhammad Azmi said.

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