InvestKL targets 6 multinational companies

KUALA LUMPUR: InvestKL, a special agency set up to attract more multinational companies (MNCs) to invest in Kuala Lumpur and the Klang Valley, aims to bring in at least six MNCs this year and 10 next year.

Chief executive officer Zainal Amanshah said the agency was confident of meeting its target this year despite the uncertain economic outlook in the United States and the European Union (EU).

He said the agency's key performance indicator was to attract 10 MNCs per annum or 100 MNCs to invest in the Klang Valley by 2020.

“As we just started operating in June, our target is to attract only six MNCs this year. Nonetheless, InvestKL has proactively reached out to many prospects, especially the Fortune 500 companies,” he said at the sidelines of the 7th Economic Transformation Programme (ETP) update yesterday.

InvestKL reports to the Federal Territories and Urban Wellbeing Ministry, Ministry of International Trade and Industry (MITI) and Performance Management and Delivery Unit (Pemandu).

Zainal said InvestKL had to date attracted Schlumberger Ltd and Vale. Schlumberger is the world's leading technology and information solutions supplier, while Vale is the second largest metal and mining company in the world.

Zainal said the agency currently had 11 personnel and was already aggressively engaging with MNCs in various methods to invest in the capital. “We will hold roadshows, talks to various embassies, mission trip to the US and EU. We're also working closely with Mida, MDeC (Multimedia Development Corp) and all the (economic) corridors,” he said.

Malaysia offers a good competitive cost advantage and is an ideal location in Asia which enables MNCs to leverage on Kuala Lumpur as a “launch pad” into Asia as this region is where the growth is for years to come, according to him.

On the industries that InvestKL was targeting, Zainal said it was looking at all the 12 National Key Economic Areas (NKEAs) such as business services, healthcare and education.

“There is healthy, growing interest in Kuala Lumpur. Investors from the Middle East, America, EU and even Singapore are attracted to Malaysia's ease of doing business, the ETP, and good infrastructure,” he said.

Asked if InvestKL's efforts to attract MNCs from Singapore would undermine Iskandar Malaysia, Zainal said: “Certainly not! In fact we work together with the corridor. It is an extension from the capital.”

He said the agency was partnering 1Malaysia Development Bhd, the developer of the Kuala Lumpur International Financial District project, to synergise with the latter to prove that Kuala Lumpur was a great attraction.

Zainal said the investments InvestKL was trying to draw was not limited to Kuala Lumpur and the Klang Valley, but included Selangor and Putrajaya. “Someone from Selangor State Investment Centre has been seconded to InvestKl to work with us and the Selangor mentri besar sits on the steering committee.”

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