Speech by YBhg Datuk Dr Shahrazat Ahmad, Finance Ministry deputy secretary general (investment) on behalf of Minister of Finance II, YB Senator Datuk Seri Amir Hamzah Azizan at the Ground-breaking Ceremony for TRX New Project

Bismillahirrahmanirrahim

Minister of Finance II, YB Senator Datuk Seri Amir Hamzah Azizan deeply regrets that pressing and urgent matters have necessitated his absence this morning. He extends his heartfelt apologies and warm wishes to all distinguished guests, business partners, and members of the TRX community gathered here today.

In his stead, I will be delivering the Minister of Finance II’s remarks.

Yang Berusaha, Dato’ Azmar Talib

CEO of TRX City Sdn Bhd,

The esteemed Board Members of TRX City Sdn Bhd,

The Management of PwC Malaysia,

Business partners, shareholders, and TRX Community

Distinguished Guests, Ladies and Gentlemen,

Assalalamualaikum Warahmatullahi Wabarakatuh Dan Salam Malaysia MADANI

• It has been slightly over a year since the launch of Tun Razak Exchange (TRX) by our Prime Minister YAB Dato' Seri Anwar bin Ibrahim and I am encouraged to see the growth in TRX since then.
• Over RM8 billion of investments have been realised in TRX, and the increased flow of local and foreign capital has generated various job opportunities across all levels. The growing pool of knowledge workers in the district currently stands at over 20,000 people.
• But I believe TRX can and must deliver much more. Let’s use TRX’s mandate as Malaysia’s International Financial Centre (“IFC”) to complement Malaysia’s existing and robust pro-business policies, further strengthening our position as one of the best places to do business in the world.

Ladies and Gentlemen,

• Kuala Lumpur moved up 20 spots in the latest Global Financial Centres Index. This rising trajectory reflects growing global confidence in our financial ecosystem and signals that we are headed in the right direction.
• In recent years we have had clear and frequent conversations on:

i. First, making Malaysia a global hub. Driven by its urban infrastructure and a deep pool of skilled, knowledge-based talent, this has attracted high value investments to Kuala Lumpur

ii. Second, accelerating foreign investments, via measures such as the Malaysia New Investment Incentive Framework (NIIF), where the focus is on high-quality investments that enhance the country’s business eco-system and generate real impact for the rakyat.

iii. Third is about ESG. As highlighted by YAB Prime Minister at the recent ASEAN Investment Forum, ESG is a strategic imperative to create competitive advantages and long-term value across our economy.

• In alignment with this national agenda, I am proud to see TRX emerging as a global hub for the city and the country.
• As a national project, TRX fits into the Government’s mission to reinvigorate Malaysia's economic landscape through the MADANI Economic Framework. With a strong network of professionals benefitting from the clustering of key industry players and leading global brands, TRX compellingly offers the best of ASEAN and Asia.
• Global leaders such as HSBC, Prudential, Huawei, Apple and Lendlease have all recognized the value of operating here, which is a clear testament to TRX’s growing global appeal.
• And today, we celebrate another major milestone, with PwC joining the district. This marks yet another step forward in building Kuala Lumpur as a premier destination for global businesses and strengthening an IFC ecosystem. With PwC joining the district, we can expect quality job opportunities, and greater regional integration across ASEAN and beyond.

Ladies and gentlemen,

• I also appreciate that TRX supports the MADANI Economic Framework via its urban regeneration and cascading impacts to the surrounding community. For example, TRX being the convergence point for the MRT network, connects 8.8 million people via 64 stations in Greater KL. As a Transit Oriented Development (“TOD”), TRX supports KL’s green aspirations to be a more walkable and liveable capital.
• On my way here today, I was pleased to see the public enjoying the lovely park and green spaces. This “third place”, where people get together between home and work, is what will help bring people back to the city centre and make Kuala Lumpur more inclusive.
• Having an IFC that is vibrant and not culturally-barren is vital in attracting the right talent. TRX can be the perfect incubator, a conducive environment that promotes wellness, collaboration and innovation. This is an investment for our workforce, especially for the young dynamic future leaders.

Ladies and gentlemen,

• We have seen TRX as a catalyst for economic growth. Let’s also ensure that it is a place for human capital and social growth.
• Today’s ground-breaking ceremony is more than just a success for TRX — it’s a win for Kuala Lumpur. Realising Kuala Lumpur’s full potential as a competitive international financial centre demands full alignment and coordinated execution across all arms of government so that we continue to strengthen KL’s centrality and competitiveness.
• We will support efforts from regulators to help provide the right environment in TRX. The Ministry of Finance will spearhead this initiative, bringing together agencies and organisations such as Bank Negara Malaysia, Securities Commission, Malaysian Investment Development Authority, and Labuan Offshore Financial Services Authority.
• To the global business community, I extend a strong invitation to expand your business footprint in Kuala Lumpur, and for those not yet here, now is the time to seize the opportunities Kuala Lumpur has to offer as your gateway to ASEAN and beyond.
•  With that, I am pleased to officiate this ground-breaking ceremony.

Wabillahi Taufik Wal Hidayah, Wasalamualaikum Warahmatullahi Wabarakatuh.

Thank you.

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