KL seeks RM2bil in new investments in digital economy

KL seeks RM2bil in new investments in digital economy

InvestKL expects the creation of 1,500 new jobs in fintech, cybersecurity and cloud computing.

The Greater KL region attracted RM2.79 billion new investments last year, creating 2,805 high-skilled jobs in 13 global service hubs.
PETALING JAYA:
Kuala Lumpur is aiming to secure RM2 billion worth of new investments in the digital economy category this year, according to InvestKL.

The investment promotion agency under the international trade and industry ministry also expects at least 1,500 jobs to be created in the fintech, cybersecurity and cloud computing segments if the investments are secured.

InvestKL CEO Azmi Zulkifli said this was part of a bigger plan to create regional centres of excellence in KL.

Azmi said KL has attracted a total of RM21.52 billion approved and committed investments since 2021.

“Since then, more than 120 global services hubs have been established, creating 19,000 highly-skilled jobs for Malaysians,” he said at the InvestKL conference today.

He said these were high-value jobs, with 94% of them paying up to RM13,000 per month in salaries each.

Azmi said the Greater KL region attracted RM2.79 billion of new investments last year, creating 2,805 high-skilled jobs in 13 global service hubs.

“This is proof that Greater KL has what it takes to be a strategic investment hub in the region,” he said.

He said the area had managed to attract high-impact, high-value and high-tech driven investments.

“This will equip Greater KL with more technologically driven, innovative, and sustainable offerings to bolster the city’s appeal as a centre for business,” he said.

The spillover benefits for neighbouring states will be significant. Among the investors in the service hubs are those from the cosmetics, healthcare and technology industries such as Baxter, Estee Lauder and Chinasoft International.

International trade and industry minister Tengku Zafrul Aziz said Malaysia would have to be more discerning in its effort to woo investors.

“We have to attract high quality and more sustainable investments, those driven by digitalisation and innovation,” he said at the event.

Tengku Zafrul said the government wants to spur the creation of jobs that require higher skills levels.

“There must also be appropriate knowledge and technology transfer that will foster a more vibrant and enabling ecosystem for our local SMEs,” he said.

At today’s event, chemicals company Huntsman, health and security service firm International SOS, and industrial gases and engineering company Linde were recognised as those with the highest investment value, while professional services company Accenture, pharmaceutical company AstraZeneca, and infrastructure consulting firm Aecom were recognised for being the top three in job creation.

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