Fuelling global ambitions through high impact investments

New Straits Times

5 days ago

DESPITE global uncertainties, Malaysia remains a resilient and competitive investment destination. As it advances towards becoming a high-income economy, global business hubs are central to this goal.
At the forefront is InvestKL, which is leading strategic initiatives to elevate Greater Kuala Lumpur (Greater KL) as a top destination for global businesses.
InvestKL chief executive officer Datuk Muhammad Azmi Zulkifli said multinational corporations' (MNCs) confidence in Greater KL reaffirms its position as a hub for modern services and cutting-edge activities.
He said these investments go beyond capital. They drive knowledge transfer, strengthen local capabilities, create job opportunities and spark innovation.
"Notably, InvestKL has successfully achieved its key performance indicator of securing RM35 billion in committed investments ahead of its initial target.
"We are now entrusted with a new target of RM50 billion in committed investments by 2030, reinforcing our role in advancing Malaysia's economic ambitions.
"With a clear strategy and a strong investor pipeline, we are confident of meeting this goal and creating wider economic spillovers that benefit Malaysia as a whole," said Azmi.
INVESTMENT PERFORMANCE
In 2024, InvestKL secured RM4.08 billion in foreign direct investments from 12 leading global companies, further strengthening Greater KL's position as a strategic gateway to the region.
To date, InvestKL has attracted over 150 global companies, contributing a cumulative RM33.8 billion in investments and generating 31,849 executive jobs.
"With 80 per cent of hires being Malaysians, InvestKL is committed to connecting MNCs with the country's talent pool.
"Through partnerships with universities and upskilling initiatives, we are ensuring professionals are equipped to thrive in high-demand industries, strengthening Malaysia's position as a hub for skilled talent in the region.
"Our role goes beyond investment attraction. We support MNCs in regulatory compliance, talent acquisition, business expansion and connections to key stakeholders across the ecosystem," said Azmi.
A MAGNET FOR GLOBAL INVESTORS
At InvestKL's 2024 Performance Highlights event, investors cited Greater KL's rich business ecosystem, access to skilled talent and supportive regulatory frameworks as key drivers in their decision to establish regional hubs there.
Malaysia's pro-investment and pro-trade stance further reinforces Greater KL's position as a gateway to Asean and beyond.
One of the investors is MODEC, a global provider of floating production solutions.
Its vice-president, project execution and Malaysia country manager, Masataka Utsumi, said:
"Greater KL stood out due to its strong pool of industry-ready talent, robust business environment, and well-established oil and gas ecosystem. Driven by a mature and integrated energy industry and a steady pipeline of graduates, Malaysia provides a natural fit for our operations."
He highlighted InvestKL as a vital partner throughout MODEC's investment journey. The agency provided end-to-end support in navigating Malaysia's regulatory landscape, enabling a smoother and more efficient setup process.
Leading software provider Access Group Malaysia managing director Lim Chee Gay said InvestKL was instrumental in its office launch.
"They helped us connect with key agencies and supported us in accessing tax incentives and grants. Greater KL's talent pool and innovative ecosystem impressed our leadership and will support the Access Group's expansion."
Meanwhile, Vale in Malaysia chief administrative officer Afzal Mohsin said Malaysia offers strategic connectivity in the Asia-Pacific region.
"In 2023, we realigned our corporate presence by moving key functions to Malaysia, bringing our operations and corporate leadership closer together. Asia-Pacific is critical for us—it's the region that consumes the most iron ore globally."
"Greater KL's strategic location within the region made it the ideal choice," Afzal said.
He said InvestKL played a key role in supporting Vale's transition and has facilitated Vale's connections with institutional and regulatory bodies, making it easier for the company to navigate the setup process.
"They also helped us address niche talent needs through mobility support and local upskilling efforts. For a company like ours, with very specific technical requirements, this partnership has been essential," he said.
Global customer experience leader Foundever chose Greater KL as its first multilingual hub in Southeast Asia, citing the area's diverse and multilingual talent pool as a key factor.
"The average Malaysian speaks multiple languages, and that makes Greater KL an ideal location for us to serve our global clients," said Foundever Malaysia finance director Ronald Portula.
Portula said InvestKL was key to Foundever's expansion, offering early advisory, valuable market insights, and connections to local partners and ecosystem players, ensuring a seamless setup and effective talent acquisition process.
PageGroup shared service centre director Azlinda Ab Kassim highlighted Greater KL's multicultural environment and strong government support as key factors in its market decision.
"Greater KL has a robust ability to nurture talent, enabling the development of a skilled workforce that can support both local and international markets," she said.
Azlinda commended InvestKL for enabling the group's smooth and efficient market entry into the region.
CATALYSING ECONOMIC GROWTH THROUGH TALENT AND INNOVATION
Foreign investments are no longer just about capital inflows. They enable national ambitions such as job creation, talent development and innovation-led growth.
This emphasis on nurturing local talent is reinforced through strong public-private collaborations, which Azmi describes as a cornerstone of InvestKL's growth.
By working closely with ecosystem partners, InvestKL drives knowledge transfer and capability building.
A key initiative is the Greater KL Live Lab (GKL Live Lab), now in its fifth year, that brings together MNCs, startups, small and medium enterprises (SMEs) and academia to pilot innovation and commercialised solutions.
"Thirteen companies have come onboard, strengthening Greater KL's position as a regional innovation hub," Azmi said.
COMMITMENT TO FUTURE GROWTH
Guided by the goals of the Madani Economy framework, the New Industrial Master Plan 2030 and the New Investment Incentive Framework, InvestKL continues to play a pivotal role in shaping Greater KL into a thriving hub for global businesses, contributing to Malaysia's progress and transformation.