Putrajaya has agreed to establish an “integrity and governance” unit in all government-linked corporations” as well as in state and ministry-owned entities.

This was announced by Prime Minister Najib Abdul Razak during his speech at InvestMalaysia 2017 in Kuala Lumpur this morning.

Najib, who is also finance minister, said the move would be carried out under the supervision of the Malaysian Anti-Corruption Commission (MACC).

"The business community wants the certainty of knowing that the government is committed to the necessary reforms, and is committed to fostering a culture of entrepreneurship and transparency, accountability and good regulation.

"On that note, I can announce that the government has, in principle, agreed to the establishment of an integrity and governance unit at all GLCs, and state and ministry-owned business entities, under the supervision of the MACC, precisely to strengthen the confidence all can, should and do have in Malaysia," he added.

The confidence from investors, Najib pointed out, has also been translated into foreign investments into government-backed projects, for example the Tun Razak Exchange.

"HSBC is investing over RM1 billion to build its future regional headquarters in the Tun Razak Exchange, recognising Malaysia's increasing status as an international finance and business centre.

"Broadcom Limited, one of the world's largest semiconductor companies with a market capitalisation of nearly half a trillion dollars, is going to transfer its Global Distribution Hub from Singapore to Malaysia in 2017, from where it will manage the group's global inventory of RM64 billion a year," he said.

Other global brands set to increase its investments in Malaysia include Huawei and Coca Cola, said Najib, who quipped that he could go on and on with the list.

"The point is that the confidence and certainty global businesses have in Malaysia brings jobs, lifts wages and helps our workforce upskill," he added.

First held in 2005, this year's Invest KL is hosted by CIMB, which was represented by its chairperson Nazir Razak, who delivered the welcoming address.

Also present, among others, were Finance Minister II Johari Abdul Ghani and chief secretary to the government Ali Hamsa.

This year's event is themed 'Malaysia at 60: Maximising Potential, and is also being held in conjunction with the nation's 60th independence anniversary celebration.