INVESTKL DRAWS RM2.48 BLN NEW INVESTMENTS IN 1H 2023

KUALA LUMPUR, 25 July 2023 - Riding on the successful recovery of the Malaysian economy that is projected to grow between 4% and 5% this year, InvestKL has secured a total of RM2.48 billion in committed investments in the first half of 2023, leading to a creation of over 6,800 executive job opportunities for Malaysians.

These investments were secured amidst the current global headwinds, demonstrating that Greater Kuala Lumpur’s (Greater KL) proposition as a top investment destination is well es-tablished, complete with robust digital infrastructure, ease of doing business, an ecosystem driven by innovative tech activities and an environment that nurtures talent.

Minister of Investment, Trade and Industry, YB Senator Tengku Datuk Seri Utama Zafrul Abdul Aziz said; “Malaysia is committed to policies aimed at creating a high-value business ecosystem to attract strategic investments, as well as realise our nation’s long-term sustain-able and inclusive growth. InvestKL’s continued success in securing quality investments for the Greater KL area is a testament to Malaysia’s conducive business landscape which has, in turn, developed Malaysia’s competitiveness and resilience on the global stage. Supported by strong policies on industries, investments, and exports, MITI, together with its agencies such as InvestKL, will continue to enhance the country’s ease of doing business and investment facilitation, while also securing domestic business prospects and improving the livelihoods of Malaysians towards a more broad-based and inclusive economic growth.”

Greater KL’s attractive propositions have led to the establishment of five (5) global services hubs in the first half by prominent multinational corporations (MNCs). These are:

A Southeast Asia (SEA) Regional Headquarters by a leading provider of integrated smart manufacturing solutions from China
An Asia Pacific Regional Headquarters and SEA Centre of Excellence by India’s largest automotive service and platform
A Global Technology and Innovation Hub by a UK-based global professional services firm
An Asia Regional Headquarters by the largest travel agency in Japan
A Regional Technology Hub by a leading global professional services firm, specialising in digital transformation from the United States

The strong investor momentum builds on InvestKL’s record performance in 2022, which attracted investments valued at RM2.79 billion 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; “The first-half results show InvestKL’s continued impact in moving the needle towards solidifying Greater Kuala Lumpur’s status as a top investment destination among the vibrant cities in Asia Pacific. This bodes well for our target in 2023 to attract investments in global services hub in the digital and technology arena that will lead to the creation of sophisticated high-skilled jobs for Malaysians. I am confident with our pipeline of investors for the remaining year, closing with a series of investments shall keep us on track to secure RM35 billion by 2030.”

Global technology investment is projected to grow by 5.1% in 2023, and Malaysia is poised to experience a similar surge. Recently Malaysia has also seen an increasing number of new digital and data centres, with various foreign investors building capabilities in digital, technology, and artificial intelligence (AI), culminating from the committed and concerted efforts by the Ministry of Investment, Trade, and Industry towards Malaysia’s goal as the Digital Hub of ASEAN. This aligns closely with the Malaysia MADANI framework to capitalise on digital and technology advancement in achieving sustainable development.

As of today, InvestKL has attracted over 130 Global Services Hubs of foreign multinationals in Greater KL that employs more than 19,000 executives with an average monthly salary of RM13,000.