New agency planned to lure investors

PUTRAJAYA: A new agency, Invest KL, will be established next year to attract 100 multinational companies to invest in the federal capital and the Klang Valley over the next 10 years.

Federal Territories and Urban Wellbeing Minister Datuk Raja Nong Chik Raja Zainal Abidin said the agency would collaborate with the Malaysian Investment Development Authority on the matter.

Although Invest KL is yet to be established, he said the Government, via the Performance Management and Delivery Unit or Pemandu, had already brought in two multinational companies, Schlumberger and Vale, to set up base in Selangor.

“Invest KL will focus on bringing in at least 98 multinational companies to Kuala Lumpur by 2011,” Raja Nong Chik told a press conference on Greater KL yesterday. – Bernama

Also present were Minister in the Prime Minister’’s Department Datuk Seri Idris Jala.

He said the Cabinet would decide if Invest KL should be placed under his ministry or the International Trade and Industry Ministry.

“Politics will not be an issue in luring foreign investors and the Government welcomes multinational companies to invest in Kuala Lumpur or Selangor,” he said. – Bernama

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