AstraZeneca to invest RM500 mln in Malaysia

PETALING JAYA: British-Swedish multinational pharmaceutical and biopharmaceutical company, AstraZeneca, has signed a memorandum of agreement (MoA) with Invest Kuala Lumpur Corporation (InvestKL) to invest more than RM500 million in Malaysia over the next five years.

It said the investment would strengthen its commitment towards innovation and talent development in the country.

Moving forward, AstraZeneca said it would be rolling out new robotic and cognitive technologies designed to improve efficiency and drive productivity across the company’s global operations.

Speaking to reporters after the signing ceremony, InvestKL chief executive officer Datuk Zainal Amanshah said the corporation wanted to ensure that from 20192023, the RM500 million investment is realised.

“We want to collaborate with them as much as possible in terms of innovation in health, digital and talent creation. This is a great opportunity for our young talent to work for a global company,” he added.

The MoA would see AstraZeneca establishing its headquarters in Kuala Lumpur to house its local and global business operations across a wide variety of functions, including finance and procurement leadership for the region.

AstraZeneca chief financial officer Marc Dunoyer said the company was pleased to expand its presence in Malaysia as the country has many advantages, including a sophisticated business ecosystem, businessfriendly policies and welldeveloped infrastructure.

“We expect to employ 600 people by 2023, almost all of whom will be Malaysians,” he added.

AstraZeneca is a global biopharmaceutical company that focuses on the discovery, development and commercialisation of prescription medicines, primarily for treatment of diseases in three therapy areas, namely oncology, cardiovascular, renal and metabolism and respiratory.

Meanwhile, InvestKL chairman Datuk Seri Michael Yam said he was bullish that InvestKL would be able to achieve its target of bringing in 100 multinational companies (MNCs) to invest in the city by 2020.

“A few years ago when InvestKL was formed, the target given to us was to bring in 10 MNCs per year. But, we think that 10 is not good enough. So, we set the target at 12 companies per year and I must say, we have been achieving this number, if not 13 MNCs.

“For the next two years, we need to bring in at least 11 MNCs and are very confident of hitting the target. InvestKL hopes the government will allow it to continue with its role of bringing in foreign investments into the country,’ he added.