INVEST KL TO BE LAUNCHED END-APRIL, TO LURE 100 MNCS BY 2020

KUALA LUMPUR, March 7 (Bernama) -- A new agency, Invest KL, formed by the government to attract 100 multinational companies to invest in Kuala Lumpur and the Klang Valley by 2020, will be launched end-April.
The Invest KL, is a collaboration between the Federal Territories and Urban Well Being Ministry, Malaysian Investment Development Authority (MIDA) and the International Trade and Industry Ministry.
It is aimed at attracting tailor-made investments and talent into Kuala Lumpur and the Klang Valley and in transforming the city into a 21st century metropolis under the Economic Transformation Programme (ETP).
Federal Territories and Urban Wellbeing Minister Raja Nong Chik Raja Zainal Abidin said Invest KL was currently in the midst of scouting for a Chief Executive Officer (CEO).
"We want the CEO to come from the private sector and with international connections as a lot of travelling will be required.
"We have shortlisted several people and we are in the midst of looking into it. This is one reason why the launch will be held in April," he told reporters after closing "The Greater KL:Smart City of the Future," conference here Monday.
The government has targetted to attract 10 companies per year, he said, adding that it had already attracted two multinational companies, Schlumberger and Vale.
Asked on the minimum investment being targeted, he said the ministry was currently working out the details with MIDA.
"We are targeting companies that can create high-value added services and income, particularly in the services industry," he said.