Kuala Lumpur: InvestKL Corporation has successfully secured RM4.08 billion in foreign direct investments for 2024 from 12 leading global companies, announced its chief executive officer, Datuk Muhammad Azmi Zulkifli. The investments are anticipated to generate 4,394 executive jobs, aligning with Malaysia’s goal of fostering a knowledge-driven and innovation-led economy.
According to BERNAMA News Agency, since its inception in 2011, InvestKL has attracted over 150 global companies, resulting in a cumulative RM33.8 billion in investments and creating 31,849 executive job opportunities. Despite a decline in 2024 compared to the previous year’s performance, Muhammad Azmi highlighted that the RM8.7 billion FDI secured in 2023 was driven by a few large investments in the services sector.
Muhammad Azmi explained that services sector investments typically involve operational rather than capital expenditures, with significant funds directed towards salaries and services. In contrast, a notable investment in 2024 involved a Japanese company relocating to Malaysia, increasing the average investment value to between RM250 and RM350 million.
The corporation has revised its total investment target to RM50 billion by 2030, up from an initial RM35 billion, following discussions with the Ministry of Investment, Trade and Industry (MITI). With investments averaging RM3.5 billion to RM4 billion annually since 2020, InvestKL aims to leverage technology advancements, trade dynamics, and ASEAN opportunities to achieve this goal.
Muhammad Azmi emphasized the significance of collaborating with Arm Holdings Plc to drive high-level technology development in the country, which is expected to have a positive ripple effect on other industries. He expressed confidence in Greater Kuala Lumpur’s potential as a prime investment hub, supported by a robust ecosystem.
MITI Deputy Secretary General Datuk Bahria Mohd Tamil also attended the event, highlighting Malaysia’s record RM378.5 billion in approved investments for 2024. Greater Kuala Lumpur led with RM192.6 billion, reinforcing Malaysia’s status as a favorable destination for high-value investments due to its world-class infrastructure, skilled workforce, and progressive business climate.