Greater KL attracts RM1.9b investments, 1,207 regional jobs - MIDA | Malaysian Investment Development Authority
contrastBtngrayscaleBtn oku-icon


plusBtn crossBtn minusBtn


This site
is mobile


Greater KL attracts RM1.9b investments, 1,207 regional jobs

Greater KL attracts RM1.9b investments, 1,207 regional jobs

22 Jul 2021

InvestKL has garnered RM1.92 billion in new investments with 1,207 regional jobs through leveraging Greater KL as a top choice for multinational companies (MNCs) to establish their regional base.

During the half-year of 2021, InvestKL attracted a total of seven MNCs and is close to achieving its year-end target.

The MNCs are from various countries, involved in sectors including financial services, food technology, infrastructure, data and software solutions provider.

The agency has an aim to attract 100 fast-growing MNCs worldwide in setting up regional services and technology hubs by 2030, as part of the 10-year strategic plan, but outperformed itself by achieving 103 MNCs so far over the last decade.

CEO 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.

“As the business landscape shifts in a prolonged pandemic environment, we remain an optimist that we can restore investors’ confidence and will continue to reassess strategy and investment plans,” he said.

“These companies will offer regional job opportunities to Malaysians while helping to upskill them.”

InvestKL in April this year has launched two initiatives which were Greater KL Live Lab and Fit4Work designed to help revitalise the nation’s innovation capacity and build a pool of Malaysian young talents to complement the high-value companies attracted.

The Greater KL Live Lab initiative, which aims to attract companies to collaborate with local players to elevate innovation had already secured three companies, successfully achieving its target for the year ahead of schedule.

The programme is intended to create high-value jobs, increase economic complexity, extend domestic linkages and improve inclusivity.

Live Lab acts as an added incentive to encourage companies to commit new or increase their investments in Greater KL and Malaysia given the business digitalisation during pandemic.

“It is a strategic programme for MNC who looking to explore sectors of technology product and services, medical technology, autonomous vehicle and mobility, pharmaceutical or medical testing, research, design and development, deep and emerging technology, and environmental, social and corporate governance projects,” Muhammad Azmi added.

Meanwhile, Fit4Work, the programme aimed at increasing the quality and competitiveness of young graduates, has successfully trained 120 graduates in the first half of 2021.

Under the programme, the trained graduates would be offered job placements with MNCs, government-linked companies and major corporations within the service industry for a minimum one-year period upon completing three-month training.

The Fit4Work programme by InvestKL is supported by public and private universities. The government, under the Social Security Organisation initiative, will provide hiring incentives to the participating companies.

Source: The Malaysian Reserve