InvestKL secures record-setting RM8.7bil in FDI for 2023

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

In a statement today, InvestKL said 2023 marked its most outstanding year, culminating in the agency having secured a total of RM29.79 billion in investments since its inception 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 and currently, 74 per cent of these positions are filled, providing Malaysians with an average monthly income exceeding RM14,000,” it said.

InvestKL said twelve leading global corporations from the Americas, Europe and Asia regions spearheaded the FDI investments, generating 8,329 high-skilled jobs, a substantial rise from the 2,805 positions created in 2022, with a significant 81 per cent of these positions in the digital and technology sectors.

Investment, Trade and Industry Minister Datuk Seri Tengku Zafrul Abdul Aziz said Malaysia’s record-high FDI inflow for 2023 reflects investors’ renewed confidence in Malaysia’s growth prospects, underscored by the unity government’s strategic policy direction and the Ministry of Investment, Trade and Industry’s (MITI) industrial reforms.

“Our focus on implementation has also seen an average investment project implementation rate of 85 per cent in the last few years as we continue to facilitate the investors’ journey,” he said in a statement today.

He said MITI’s agency, InvestKL, has played a key role in the overall efforts to enhance Malaysia’s competitive advantage globally while also propelling towards a future powered by technology, sustainable practices, high-quality investments and skilled job opportunities for citizens.

InvestKL chief executive officer Datuk Muhammad Azmi Zulkifli said 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.

“Our strategy includes leveraging opportunities in neighbouring states to amplify these benefits, contributing to a sustainable and prosperous future for Malaysians,” he said.

He also said InvestKL maintains its confidence in Greater KL’s ongoing enhancement as a strategic global investment hub.

“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 pointed out.

Azmi added that InvestKL’s strategic direction for 2024 places significant emphasis on attracting global services from pivotal sectors such as digital and technology, engineering, health tech, and renewable energy, along with human capital development in line with the MADANI Economy Framework, the Twelfth Malaysia Plan, and the New Industrial Master Plan 2030. – BK