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Of these, 15,005 were in the local salary bracket, while 3,415 were in the foreign salary bracket. Here's a breakdown of how these investments have grown Greater KL, and Malaysia's economy.
A total of 19,607 high-skilled regional jobs were created in Greater Kuala Lumpur (Greater KL) between 2021 and 2022, as a result of investments from the region and globally, according to InvestKL's 2022 Performance Report.
In the report, the investment promotion agency for Greater KL – a part of the Ministry of International Trade and Industry – shared that these investments added up to RM21.52bn, with a total of 129 global companies involved. Within 2022 itself, the investments amounted to RM2.79bn, with 18,420 regional jobs (2,805 high-skilled jobs) and 13 global companies involved.
In addition to the above, the report covered details on the investment profiles, a talent programme that contributed to job creation and overall growth, the impact of the combined initiatives on the Malaysian economy, and more, with excerpts highlighted below.
MNCs investing in Greater KL: Where are they from?
Per the report, more than half of the profiles of MNCs investing in Greater KL are from Asia & Oceania (30%) and the Americas (25%), while the remaining are from Europe, Middle East & Africa (45%).
Top six markets where the MNCs are from:
- US (32)
- China (13)
- France (13)
- Germany (12)
- Japan (12)
- UK (12)
The top five sectors these MNCs are investing in are:
- Center of Excellence (23)
- Industrial product (16)
- Digital & technology services (16)
- Pharmaceutical & healthcare (10)
- Oil, gas & energy (10)
Upskilling and talent development
Among the various initiatives involved is the InvestKL Talent Programme, which aims to prepare Malaysians for the jobs of the future. The programme covers three leadership identification and development tracks based on the age and experience of the candidates:
- The Apprenticeship Programme: features workshops, boot camps, and a structured internship programme.
- The Young Executive Programme: involves graduate development, innovation competitions, and knowledge transfer programmes.
- The Senior Executive Programme: comprises career comeback programmes, outreach programmes for talent abroad, and collaboration with global leadership institutions.
In 2022, InvestKL completed its two-year Fit4Work training programme under the Penjana Initiative to enhance the essential skill sets of young Malaysian graduates required for the global services industry, while facilitating placements in leading global companies for outstanding trainees upon completion of the programmes.
Impact of the investments on the Malaysian economy
Overall, 18,420 regional jobs have been created as a result of the investments, in 2022. Of these:
- four in 10 (41%, or 7,610) are in senior executive/technical professional roles;
- one-fourth (25%, or 4,538) are in managerial/HOD roles;
- 23% (or 4,200) are managers;
- 7% (or 1,228) are in support/customer service roles,
- 3% (or 652) are in the top management, and
- 1% (or 192) are in junior executive/entry-level executive roles.
Digging deeper, the report also showcased a quick analysis of the roles in terms of salary brackets:
- Local salary bracket: 15,005
- 40% (or 6,008): senior executives/technical professionals
- 26% (or 3,803): managers/HODs
- 24% (or 3,638): managers
- 8% (or 1,192): support/customer service roles
- 2% (or 335): top management
- 0% (or 29): junior executives/entry-level executives
- Foreign salary bracket: 3,415
- 47% (or 1,602): junior executives/entry-level executives
- 22% (or 735): managers
- 16% (or 562): senior executives/technical professionals
- 9% (or 317): managers/HODs
- 5% (or 163): top management
- 1% (or 36): junior executives/entry-level executives
The following was also noted:
How Greater KL and Malaysia rank on the global stage
Taking on a wider lens, the report highlighted where Greater KL and Malaysia stand in terms of innovation, talent, competitiveness, and more.
Digital & innovation
- Malaysia ranks 5th in Asia for global security.
- It is also ranked the 9th top city in APAC to be the leading technology innovation hub over the next four years.
- Malaysia ranks 15th among the top 20 financial technology hubs in Asia.
- KL stands as the 16th most attractive city in the world for digital talent.
Competitiveness & talent
- Competitiveness:
- Malaysia has come out 1st in emerging Southeast Asia as the country with the most potential to attract foreign investors.
- It also ranks 2nd in Asia Pacific with the highest sustainability reporting rates.
- Other rankings:
- 2nd in ASEAN for ease of doing business
- 3rd among the 366 upper-middle income nations
- 8th in Asia (29th globallly) in business environment ranking
- 3rd city for digital nomads in Asia (18th globally)
- 3rd in Asia in the 2022 English Proficiency Index
- 7th in APAC for digital agility in 2022
- Talent:
- Malaysia ranks 8th in Eastern, Southeastern Asia and the Oceania region for global talent competitiveness.
- There are a total of 113 international schools within KL itself.
- Malaysia has more than 70 public and private universities.
- More than 560,000 graduates were recorded in Malaysia in 2021.
Liveability
According to 2022 findings, KL has emerged 1st in the world's top 20 global cities for expats. The country also came in 2nd place among Southeast Asian cities for expats.
Further rankings:
- 4th globally for personal finance
- More than 50 museums and art galleries
- 181st least expensive city globally
Refer to pages 9-11 of the report for the ranking citations.
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