Malaysia secures RM2.48bn worth of investments in H1 2023, expected to create over 6,800 executive jobs

Greater KL’s propositions have resulted in the establishment of five global services hubs in H1 2023, by prominent multinational corporations.

Following the recovery of Malaysia's economy that is projected to grow between 4% and 5% this year, InvestKL has secured a total of RM2.48bn in committed investments in the first half of 2023, creating over 6,800 executive job opportunities for Malaysians.

Greater KL’s propositions have resulted in the establishment of five global services hubs in the first half, by prominent multinational corporations (MNCs):

• A Southeast Asia (SEA) regional headquarters by a provider of integrated smart manufacturing solutions from China,
• An Asia Pacific (APAC) regional headquarters and SEA centre of excellence by an automotive service and platform from India,
• A global technology and innovation hub by a UK-based global professional services firm
• An Asia regional headquarters by a Japanese travel agency, and
• A regional technology hub by a global professional services firm, specialising in digital transformation from the US.

This builds on InvestKL’s prior projects in 2022, which attracted investments worth RM2.79bn and the creation of 2,805 high-skilled executive jobs through the establishment of 13 global services hubs, according to IvestKL.

Commenting on these investments, Minister of Investment, Trade and Industry, Tengku Datuk Seri Utama Zafrul Abdul Aziz, said: “Malaysia is committed to policies aimed at creating a high-value business ecosystem to attract strategic investments, as well as realise our nation’s long-term sustain-able and inclusive growth.

"InvestKL’s continued success in securing quality investments for the Greater KL area is a testament to Malaysia’s conducive business landscape which has, in turn, developed Malaysia’s competitiveness and resilience on the global stage.

"Supported by strong policies on industries, investments, and exports, MITI, together with its agencies such as InvestKL, will continue to enhance the country’s ease of doing business and investment facilitation, while also securing domestic business prospects and improving the livelihoods of Malaysians towards a more broad-based and inclusive economic growth."

Datuk Muhammad Azmi Zulkifli, Chief Executive Officer, InvestKL, added: "The first-half results show InvestKL’s continued impact in moving the needle towards solidifying Greater Kuala Lumpur’s status as a top investment destination among the vibrant cities in Asia Pacific. This bodes well for our target in 2023 to attract investments in global services hub in the digital and technology arena that will lead to the creation of sophisticated high-skilled jobs for Malaysians.

"I am confident with our pipeline of investors for the remaining year, closing with a series of investments shall keep us on track to secure RM35bn by 2030."

As global technology investment is projected to grow by 5.1% in 2023, Malaysia is poised to experience a similar surge — there has been a recent increase in the number of new digital and data centres in Malaysia, with various foreign investors building capabilities in digital, technology, and artificial intelligence (AI). 

As of today, InvestKL has attracted more than 130 global services hubs of foreign multinationals in Greater KL, employing more than 19,000 executives with an average monthly salary of RM13,000.

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