KUALA LUMPUR: The 12th Malaysia Plan (12MP) will help enhance Greater KL's appeal to multinational corporations (MNCs) and fast-growing companies, said InvestKL.
Its chief executive officer Muhammad Azmi Zulkifli said the proposed measures under 12MP would reinforce Greater KL's standing as a leading location for Environmental, Social and Governance (ESG), sustainable and innovation-led investments in the region.
This will in turn contribute to growth in the Malaysian economy in the next five years and beyond.
"We are pleased with the government's focus in encouraging our local companies, especially the micro, small and medium enterprises (MSME) to be more technologically savvy and create a more conducive ecosystem for the global MNCs to work with," Azmi said in a statement.
He said the efforts to strengthen the MSMEs and transforming this sector into a new driver of growth gave an added boost to InvestKL's Greater Kuala Lumpur Live Lab (GKL Live Lab) programme.
"All these measures under 12MP will give Greater KL a big push as we accelerate efforts to invite more MNCs to set up a regional base here," he said.
Launched in April, GKL Live Lab has since secured three companies under the programme, achieving its 2021 target ahead of schedule.
GKL Live Lab aims to attract global companies to collaborate with Malaysian players to elevate GKL's competitive advantages for quality, innovation-led and knowledge-intensive activities.
Azmi said the government focus on propelling growth in Global Services (GS) operations in the 12MP also bodes well with InvestKL's 10 years strategic plan.
InvestKL plans to attract the next 100 MNCs and fast-growing companies to set up regional services and technology hubs in Malaysia, with a total of RM20 billion in new investments through 2030.
"Globally, companies are shifting to bundle key strategic services for business units into one single location in the face of the rapid changes in business model and the dynamics.
"This trend brings opportunities for the establishment of more GS operations. As we create a more supportive ecosystem under 12MP, we will stand a better chance in seizing these opportunities," Azmi said.
Meanwhile, Azmi said efforts in advancing green growth and sustainability in the 12MP were timely to help convince investors who are increasingly paying more attention to the ESG principles about Malaysia's commitments in decarbonisation.
Under the 12MP, Malaysia will advance green growth by implementing the clean, green and resilient development agenda through the whole-of-nation approach.
"The pandemic has accelerated the global shift towards a green economy and ESG is a major criteria that will affect companies' decision making going forward," Azmi added.