InvestKL keen on maintaining 2020 target to attract 12 MNCs

Invest Kuala Lumpur Corporation (InvestKL) is maintaining its 2020 target to attract 12 high-value high-tech and high-impact multinationals (MNCs) to invest in Kuala Lumpur.

To-date, InvestKL has attracted 91 global MNCs with approved and committed investments of RM 13.95 billion. This in return has attracted 12,584 regional high-skills jobs since its establishment.

in 2019, InvestKL attracted 12 high-tech and high-value MNCs, contributing RM 2.2 billion worth investments and created 1,308 regional jobs. 70 percent of the 12 MNCs were from US, UK and Europe.

“Malaysia’s fundamentals remain strong and attractive to investors and we remain in active discussions with potential investors from the United States (US) 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.d jobs since its establishment,” said Chief executive officer Muhammad Azmi Zulkifli.

“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 added.

On the other, Senior Minister and Minister of International Trade and Industry, Datuk Seri Azmin Ali said InvestKL’s achievement is a testament of foreign investors’ confidence in the country’s business and governance environment.

According to news agency, Bernama, he also cautioned that with the pandemic and the negative impact on foreign direct investments globally, InvestKL will need to recaliberate and add greater value propositions to its strategies.

From 2011-2019, InvestKL has stated that RM8.1 billion or 58 per cent of the RM13.95 billion of committed investments have been realised, and 8,858 or 70 per cent of the 12,584 high skilled regional jobs are already on the payroll with an average annual income of RM141,622.

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