City transforms itselfto attract investment
It takes more than a prime spot and fiscal incentives for investors to select a regional location for business.
To ensure that Greater Kuala Lumpur/Klang Valley (GKL/KV) attracts long-term investments, Malaysia is transforming the metropolis into a more vibrant and liveable place - one that has a throbbing cultural scene, nightlife and green lungs.
That is why there are various initiatives to enhance GKL/KV's environment. These include greening the city, establishing dedicated entertainment zones, turning the Klang River into an iconic waterfront, building a mass rail transport system, constructing more covered pedestrian walkways and enhancing solid waste management.
A feasibility study is also being conducted in line with the government's plans to build a high-speed rail system to connect Kuala Lumpur to Singapore. This will reduce total travelling time to just
90 minutes door to door, from the current three hours by air.
Heritage sites are being revitalised and new commercial hubs developed. The latest is the new financial district, the Tun Razak Exchange or TRX. The 28-hectare exchange is expected to attract 250 companies, create 500,000 jobs and generate more than US$8 billion in development value.
"This is the best time to be in KL, right in the thick of action," InvestKL CEO Zainal Amanshah says. "The city is transforming, becoming more liveable, and there is an emphasis on creating a sense of community spirit. We are on the right track and making good progress on every front."