InvestKL: New Industrial Master Plan 2030 the cornerstone for a sustainable, economically-diverse, and digitally-driven Malaysia

KUALA LUMPUR, September 8, 2023 — InvestKL, the leading investment promotion agency for Greater Kuala Lumpur (Greater KL), welcomes the New Industrial Master Plan 2030 (NIMP 2030), which was recently launched by Prime Minister YAB Dato’ Seri Anwar Ibrahim.

A foundation of the Government’s ambitious and transformative Ekonomi MADANI framework, NIMP 2030 will see an estimated RM95 billion invested over the next seven years, of which almost 10% will be allocated via the NIMP Industrial Development Fund and the NIMP Strategic Co-investment Fund. The NIMP 2030 adopts a four mission-based approach i) advancing economic complexity, ii) tech-up for a digitally vibrant nation, pushing for Net Zero, and iv) safeguarding economic security and inclusivity, to transform Malaysia into a regional and global powerhouse by 2030.

Chief Executive Officer of InvestKL, Datuk Muhammad Azmi Zulkifli said, “With a short window of just seven years, NIMP 2030 takes a cohesive whole-of-nation approach that is necessary to keep Malaysia and Greater KL competitive while building a more equitable and inclusive nation. We are confident that Greater KL has all the fundamentals to ensure the success of NIMP 2030 through the set-up of MNCs in the identified focus sectors. We will work closely with the Ministry of Investment, Trade and Industry (MITI) to support the delivery and implementation of the various projects, investments, and initiatives necessary to make the NIMP 2030 a success.”

Tasked to attract the world’s leading global companies to set-up their regional hubs in Greater KL, InvestKL will intensify its efforts to align with NIMP 2030 by:

1. Attracting the establishment of Global Services Hubs

The constant improvement in Malaysia and Greater KL’s global rankings has bolstered InvestKL’s efforts to support NIMP 2030 goals by attracting the establishment of Global Services Hubs. These entail drawing in leading global companies to establish regional and global operations centres to service markets throughout Asia, in areas such as digital, innovation, and technology-driven activities. These company investments are at the forefront of sustainability, with initiatives to support Malaysia's pledge to achieve carbon neutrality and Net Zero by 2050. InvestKL champions responsible business by creating opportunities in community engagement, policy advocacy, and building leading capabilities in the Sustainability space for MNCs to accelerate their Global Sustainability goals.

2. Spillover to the local ecosystem

The establishment of these hubs creates a vibrant ecosystem – one that enables collaborative opportunities between academia and local SMEs. The creation of high-value job opportunities not only ensures a competitive salary but also nurtures Malaysian talent through the transfer of knowledge. Through InvestKL’s extensive network with universities, MNCs are able to leverage and explore partnerships, and design programmes and initiatives to ensure a strong continuous pipeline of local talents to support their activities.

3. Foster public-private collaboration

In line with the NIMP 2030 enabler, improving the investor journey, InvestKL assists in policy shaping and develops programmes to integrate MNCs into the local ecosystem, enhancing the ease of doing business, and bolstering investor confidence. This has been achieved through various engagements with MITI, government agencies, and relevant key stakeholders.

As of July 2023, InvestKL has attracted over 130 Global Services Hubs of foreign MNCs in Greater KL, creating over 19,000 executive jobs, with an average monthly salary of RM13,000 monthly. The future remains bright for Greater KL as a regional hub for global investors looking to mark their presence in the region.