InvestKL aims to attract more MNCs this year
We are being realistic and more conservative in view of the cautionary-type approach of investors and uncertainty in forex factors. Datuk Zainal Amanshah, InvestKL chief executive officer
PUTRAJAYA: InvestKL, which has attracted 64 multinational companies (MNCs) and investments of RM8.9 billion since 2011, aims to secure 10 more this year, amid a tough and challenging environment.
Chief executive officer Datuk Zainal Amanshah said InvestKL was looking at investments from the United States, China, Japan and South Korea, as well as the Middle East to bring some upside to the target.
He said this at a media briefing on InvestKL’s 2016 performance here yesterday.
InvestKL is the specialist investment agency to attract and facilitate investments by multinationals into Greater Kuala Lumpur.
In 2016 alone, InvestKL attracted 13 MNCs with approved and committed investments of RM3 billion and 1,863 jobs created.
Among the 13 MNCs which have established regional centres in Kuala Lumpur are Switzerland’s Novartis (global service centre), US-based Oracle (inside sales and business development hub for the Asia Pacific) and Oceaneering International (regional head office for the Asia Pacific).
The list also includes Germanheadquartered Voith ( ASEAN regional centre and centre of competence), Spanish- based Technicas Reunidas (regional hub for the Asia Pacific), as well as China’s Amer International Group (commodity trading hub).
Commenting on the slightly lower target for this year, Zainal said: “We are being realistic and more conservative in view of the cautionary-type approach of investors and uncertainty in forex factors.
“Among the challenges for this year is looming global uncertainties, post Brexit, elections in Germany, France and the Netherlands, the balancing of China’s economy and unlikely realisation of the Trans Pacific Partnership Agreement.” On prospects, he said, the ASEAN Economic Community, China Belt and Road Initiatives, Regional Comprehensive Economic Partnership and Malaysia-European Union free trade agreement would help spur positive sentiment in the global environment.
Asked if there are investors closing down their businesses and withdrawing investments from Malaysia, Zainal said about four to five cases were recorded since 2011.
He said the reason was due to mergers and acquisitions taking place, as well as the extreme volatility of global commodity trading.
“It had nothing to do with domestic reasons,” he added. — Bernama