InvestKL attracts record RM8.7bil FDIs from RM2.79bil in 2022

KUALA LUMPUR: InvestKL achieved a record-setting RM8.7 billion in foreign direct investments (FDI) in 2023, marking an astounding increase of over 300 per cent from RM2.79 billion in 2022. 

According to InvestKL, 2023 marked the agency's most outstanding year, having secured a total of RM29.79 billion in investments since its establishment in 2011. 

To date, 66 per cent of the investments or RM19.74 billion have materialised, leading to the creation of over 27,000 executive jobs.    

Currently, 74 per cent of these positions are filled, providing Malaysians with an average monthly income exceeding RM14,000. 

Chief executive officer Datuk Muhammad Azmi Zulkifli said the surge in investments underscores the solid confidence of foreign investors in Malaysia's economic potential. 

He added that the unprecedented FDI into Greater KL showcases the city's attractiveness across diverse sectors such as technology, healthcare, finance, and engineering, signifying a major achievement in our efforts to attract high-value activities.  

"The success demonstrates Greater KL's maturing business ecosystem, capable of securing and supporting substantial, intricate investments. 

"The impact is profound, catalysing economic growth, strengthening local ecosystems and creating high-value employment.  

"Our strategy includes leveraging opportunities in neighbouring states to amplify these benefits, contributing to a sustainable and prosperous future for Malaysians," he said during InvestKL media briefing here today. 

According to InvestKL, 12 leading global corporations from the Americas, Europe and Asia regions spearheaded the investments.  

From the Americas, technology and consulting services led the charge, showcasing a strong interest in Malaysia's digital economy.  

European investments spanned healthcare technologies, financial services and infrastructure, highlighting the region's focus on innovation and sustainable development. 

Asian contributions were notably varied, with investments in automotive, environmental services, healthcare devices as well as travel and tourism. 

InvestKL also noted that the investments generated 8,329 high-skilled jobs, a substantial rise from the 2,805 positions created in 2022.  

A significant 81 per cent of these positions were in the digital and technology sectors, which emphasised the increasing importance of tech-driven industries in shaping the economic landscape of Greater KL. 

Additionally, life sciences, healthcare and medical tech contributed six per cent of the job creation, with financial services accounting for five per cent.  

The agency said this diversity in job opportunities highlights the dynamic nature of Malaysia's economy and showcases the array of opportunities available for skilled professionals. 

Azmi said businesses in Greater KL are ready to capitalise on the country's strengths to broaden their regional presence.  

He noted that the International Monetary Fund and the World Bank forecast a higher gross domestic product (GDP) growth for Malaysia in 2024, projecting an increase to 4.3 per cent. 

Azmi maintained confidence in Greater KL's ongoing enhancement as a strategic global investment hub. 

"This confidence is rooted in Malaysia's investor-friendly policies, diverse and multilingual talent pool, and flourishing ecosystem.  

"As a leading investment promotion agency for Greater KL, InvestKL is committed to spearheading efforts to ensure the nation's capital remains the primary destination for companies looking to expand their presence in Asia," he added. 

He said InvestKL's strategic direction for 2024 places significant emphasis on attracting global services from pivotal sectors such as digital and technology, engineering, health tech, renewable energy, along with human capital development. 

This is in line with the Madani Economy Framework, 12th Malaysia Plan and New Industrial Masterplan 2030.

Most Popular
Related Article
Says Stories