Back in the lated 1970s, Selangor became an industrialised state where significant changes were made to its economic policy with preference given to industrial, housing and recreational development. During the period, both the federal and state government had worked together to formulate policies to push the State towards capital-intensive and high-tech industries.
As of March 2019, a total of 9,097 manufacturing projects with investments of RM218.4 billion were approved by MIDA for Selangor, creating more than 802,000 employment opportunities. Majority of the employment was in the electrical and electronics (E&E) (196,158) followed by transport equipment (91,752), rubber products (82,055) and machinery and equipment (52,620) industries.
“Selangor is indeed one of the most preferred investment locations for manufacturing activities. The continued interest by investors enables Selangor to register a remarkable level of reinvestments by local and foreign companies, whereby reinvestments in the manufacturing sector constituted 40.3 percent of total investments in the sector for the state.
The strong presence of MNCs and Large Local Corporations (LLCs) in the State such as Spirit AeroSystems, Nestle, IKEA, Panasonic, Q-Cells, KL-Kepong Oleomas, Nippon Electric Glass, Perodua Global Manufacturing, Proton, Top Glove and Hartalega hold much promise for business collaborations and opportunities,” said Mr Arham Abdul Rahman, Deputy Chief Executive Officer (DCEO) of Malaysian Investment Development Authority (MIDA) during the ninth briefing of MIDA Invest Series at MIDA Headquarters: Unfolding States’ Business Potential.”
Mr Arham highlighted that the Federal Government, through MITI and MIDA, is continuously intensifying efforts to attract more high level and quality investments through the provision of fiscal and non-fiscal incentives which are available for both foreign and domestic Investors. He, therefore, urged companies to take advantage of all facilities provided by the government to adopt innovative new technologies and processes to keep up with the trajectory of the broader industry.
The Invest Series event, which was well attended by over 200 participants from various fields, including manufacturers and service providers. Also present were YBhg. Dato’ Hasan Azhari, CEO of Invest Selangor Berhad and Mr Tan Beng Teong, CEO of Selangor Human Resource Development Centre (SHRDC). The event featured a panel discussion with a broad range of speakers representing government agencies such as (Invest Selangor Berhad, Selangor Human Resource Development Centre, Selangor Maritime Gateway), developer (Smart Selangor (M) Sdn. Bhd.) and Government-Linked Corporation (Smart Selangor Delivery Unit).