InvestKL, a Malaysian government agency, boosts efforts to lure key multinational corporations, including oil and gas firms, to locate their operations in Greater Kuala Lumpur.

Malaysia’s InvestKL is more than half way to completing its mission: attracting 100 multinational corporations (MNC), including top oil and gas firms, to base their regional headquarters in Greater Kuala Lumpur (KL) by 2020.

Luring oil and gas MNCs ranked among the Fortune 500 or Forbes 2000 group of firms looms large for InvestKL given Malaysia’s well established petroleum industry, anchored by national oil company (NOC) Petroliam Nasional Berhad (Petronas).

"It’s is not the main focus, but it’s certainly a key sector because oil and gas is one of the 12 national key economic areas. KL is also an oil and gas hub for Southeast Asia," Daniel Teng, senior director of Marketing & Communications, Strategy, Advisory and Services at InvestKL said.

With strong government backing, InvestKL – which was established in July 2011 – can tap on an array of state resources to achieve its objectives.

"We work very closely with Petronas and Malaysia Petroleum Resource Corp (MPRC), which is under the Prime Minister’s Department. We work with them as they are the subject experts that can guide us in attracting the oil and gas MNCs. We also use our channels to help the MNCs," Teng said.