InvestKL targets more than RM2 bil worth of investments for 2023

Chief executive officer Datuk Muhammad Azmi Zulkifli said the agency will pursue investors who are aligned with Malaysia's sustainability agenda.

"The RM2 billion is an initial target and this is still being discussed with the Ministry of International Trade and Industry (MITI), but we are quite certain that the target will be much higher than the RM2 billion shared earlier," he said at InvestKL's 2022 Performance Update and award ceremony here today.

Also present were MITI deputy secretary-general (Investment) Datuk Bahria Mohd Tamil and InvestKL chairman Datuk Seri Michael Yam.

InvestKL is the investment promotion agency for Greater Kuala Lumpur under the MITI.

Muhammad Azmi said the pipeline of investments comprised companies across three main regions, namely America, Europe and Asia.

"The investment activities are quite similar in terms of trends in the past two years.. focusing on the digital economy," he said, adding that many foreign companies also looking at centralising and securing their supply chains as well as innovation of products and services.

In 2022, the agency secured investments worth RM2.79 billion, a 13 per cent increase from RM2.46 billion in 2021, with the creation of 2,805 high-skilled executive jobs through the establishment of 13 global services hubs, including Abbott, Baxter, Estee Lauder, Tupperware as well as The Arnott's Group.

InvestKL has also set a target of attracting committed investments of RM35 billion by 2030, and as of 2023, the agency has achieved 60 per cent of the target.

Muhammad Azmi added that InvestKL is also collaborating with leading global companies and strategic partners on added-value programmes that would advocate responsible business and sharing of best practices to accelerate Malaysia's green agenda, in line with the National Investment Aspirations.