KUALA LUMPUR: Invest Kuala Lumpur Corp (InvestKL) is maintaining its 2020 target to attract 12 high-value, high-tech and high-impact multinational companies (MNCs) to invest in Kuala Lumpur despite the Covid-19 pandemic crisis.
Chief executive officer Muhammad Azmi Zulkifli said the agency is targeting investments in sectors such as technology, consumer and industrial products, medical devices, medical technology, smart technology and renewable energy.
“Malaysia’s fundamentals remain strong and attractive to investors and we remain in active discussions with potential investors from the United States and Europe. Although some investors are taking a wait-and-see approach, others remain committed to their investments as they hold a long-term view.
“Additionally, China is open for business, and this is good news for us. We are in talks with Chinese companies and global MNCs from the technology, logistics and manufacturing sectors who are interested in expanding their capacity or setting up their regional headquarters here,” he said in a statement today.
To-date, InvestKL has successfully attracted 91 global MNCs with approved and committed investments of RM13.95 bil, which created 12,584 regional high-skilled jobs since its establishment in 2011.
This accounts for 91% of InvestKL’s 2020 mandate and the corporation said it is cautiously optimistic of achieving its target of attracting 100 MNCs by year-end.
In the same statement, Senior Minister and Minister of International Trade and Industry Datuk Seri Mohamed Azmin Ali said InvestKL’s achievement is a testament of foreign investors’ confidence in the country’s business and governance environment.
Azmin, however, cautioned that with the pandemic and its generally negative impact on foreign direct investments globally, InvestKL will need to recalibrate and add greater value propositions to its investment strategies.
Meanwhile, Muhammad Azmi said in 2019, InvestKL attracted 12 high-tech and high-value MNCs, contributing to the services sector in Malaysia, with approved and committed investments of RM2.2 bil, creating 1,308 regional jobs.
Of the 12 MNCs, 70% were from the US, UK and Europe, while the rest were Asian corporations such as Daifuku (Japan), Vanke (China), CRRC Corporation (China) and SRKay Consulting (India).
“From 2011-2019, RM8.1 bil or 58% of the RM13.95 bil of committed investments have been realised, and 8,858 or 70% of the 12,584 high skilled regional jobs are already on the payroll with an average annual income of RM141,622.
“In addition to offering regional jobs and upskilling Malaysians, the 91 MNCs have significantly added value to local businesses. The real estate, hospitality, education, medical, tourism and entertainment sectors have all benefited,” he said.
The real estate sector saw an estimated RM156.8 mil in annual rental income for office space in 2019, Muhammad Azmi said. – May 18, 2020, Bernama
