Despite a year laden with challenges, Selangor continued to be an attractive destination for investors, the State recorded a total investment of more than RM22.45 billion with 411 manufacturing projects approved from the beginning of the year to-date.
State executive councillor for investment, industry and commerce and small and medium enterprises (SMEs) Dato’ Teng Chang Khim explained that of the total amount RM10.43 billion were from domestic investments and RM12.02 billion came from foreign investments.
Subsequently the investments will help a total of 27,491 potential job opportunities in the various sectors on the investments. Invest Selangor the investment arm of Selangor has been actively engaging with potential investors and carried out many programs including the upcoming SIBS event slated for November.
Selangor has never left the radar of businesses, it is the highest GDP contributor to the country’s economy (read our cover story with Selangor Menteri Besar out soon), it is also the most industrialised and houses over 6 million residents that can be an added support for the work force.
Teng added that among the efforts carried out to ensure the investment sector continues to grow in Selangor include strategic planning with the implementation of action plans such as the Selangor Aerospace Action Plan and the preparation of the Selangor Biotechnology Action Plan.
The state government through the standing committee has implemented 121 programmes or activities to encourage new investment activities and increase existing investments.