Greater Kuala Lumpur
Kuala Lumpur is reaching for the skies in more ways than one. The end of 2019 saw the completion of its tallest skyscraper of 492 meters, towering over the many other impressive man-made homages to 21st-century life. In contrast, below on ground-level, the city is scattered with a patchwork of green parkland that adds to the ease of KL work-life balance.
When you invest in Greater KL you are becoming part of a rich and diverse community. The people of KL are extremely friendly, made up of diverse cultures and ethnic backgrounds they speak, of course, Bahasa Malaysian but many residents speak English as their first language as it is widely used in education and business.
It’s all about the future and the future seems to be happening now in this modern, high-tech city which is ranked as the 12th easiest place to do business in the world. (Doing Business 2020 report based this ranking on areas including property registration, tax payments, contract enforcement and insolvency procedures.)
International companies setting up a business in KL are welcomed and supported with open arms and MNCs are already an integral part of its cityscape. InvestKL has a lot to do with that. Recognised as one of the Asia Pacific top investment promotion agencies for 2019 it is a ‘one-stop centre’ to help multinationals set up their regional business, innovation and talent hubs.
InvestKL works with various government ministries and agencies to help shape and offer attractive fiscal packages. Special tax incentives support businesses in maintaining a level of competitiveness with the global playing field and what’s more, InvestKL with their links to government ministries and agencies ensure they are in the best position to identify and overcome any red tape that might complicate a company’s move to Greater KL.
In a city where its skyscrapers symbolize how companies can grow in a market that is strategically positioned to connect the rest of the world with Asia, InvestKL is pivotal in ensuring a seamless transition into Kuala Lumpur. In the world of business, they are the perfect hosts. After all, what more do you want from a host than to support and advise you before, during and after your move? Their team of specialists, amongst other things, help in the formation of effective business strategy, introduce you to the best investment locations and talent, and offer familiarisation programmes that make Greater KL feel like a home from home.
InvestKL is a contributing agency in Industry 4wrd, the national policy on industry 4.0. The policy has emerged from Malaysia’s already global manufacturing industry and aims to;
‘Reimagine the future of manufacturing…with the objective of transforming the Malaysian manufacturing industry and its related services to be smart, systematic and resilient.’ YB Datuk Darell Leiking, Minister of International Trade and Industry Malaysia, 2018
Setting up shop in Greater KL will mean that businesses will be surrounded by the ethos of the Industry 4wrd policy to ‘not only “make better things” by creating innovative products and services, but also to “make things better,” by improving design, engineering, service planning and execution, management and production processes.’
Malaysian Global Talent Programme
InvestKL, in collaboration with the Talent Corp and the Ministry of Education, are investing in people too. Money might be what makes the world go round but its people that start the ball rolling and thanks to the Malaysian Global Talent Programme the ball is well and truly rolling.
With its ‘Creating Leaders of the Future’ objective, the programme has connected government agencies, global companies and universities to nurture the most talented Malaysia (and others) have to offer and produce global corporate leaders. Leaders that will help businesses realise that the old adage of ‘the skies the limit’ is somewhat restrictive in a city where the skies are touched and stretched to bridge the gap between Asia and the world. These are the leaders that are trained to ‘scale up the leadership ladder of corporate organisations, into both local as well as global multinational companies.’
Shared Prosperity Vision 2030
There are visionaries in Malaysia that have gone beyond rhetoric and implemented a government blueprint that aims to embed institutions in the foundations of creating a fairer, more equal society. The Shared Prosperity Vision 2030 aims to upskill the population to bridge the economic gap of all ethnic and social groups which means a larger pool of eligible workers for businesses looking to Greater KL.
Innovation and moving up the value chain
Business and innovation are at the heart of Greater KL. The global economic landscape is a fast-changing one, but Greater KL is underpinning itself with the belief that innovative ideas and business models are essential to future growth and competitiveness. So much so that they have dozens of universities in the city, innovation agencies and knowledge centres fuelled by a diverse and skilled population.
Step into Greater KL and you will be in an environment where your ideas can be legally protected. Malaysia’s Intellectual Property Corporation handles the registration of ideas from trademarks to patents.
Ideas are also funded. Malaysia’s largest bank, as well as other agencies, fund ideas because they believe that ideas generate viable and profitable businesses.
Innovation investors are offered comprehensive support from research and development to producing a commercially viable product or service. So, dreams become goals, and goals become realised through three key focus areas; Create, Manage and Monetise and there are countless success stories now to show that Malaysia’s business and innovation initiative is working.
In Summary… 10 reasons why you should invest in Greater KL:
- Tremendous vision and support from the government through agencies such as InvestKL
- Excellent location in relation to the rest of ASEAN
- Mature legal and regularity framework
- Competitive cost of doing business
- Excellent living conditions making it easy for ex-patriots to assimilate into the local culture
- Ability to find and retain talent
- English used in education and business
- Multi-ethnic and multi-cultural, attracting people from all over the world to live and work in Greater KL
- Well-established and intricate network of airports, roads, railways, highways and ports making for a world-class infrastructure
- A beautiful city made up of a mix of green and commercial space
For further information on business opportunities in KL, visit – http://www.investkl.gov.my/