With cautious optimism, Selangor drops its Foreign Direct target for 2022 to RM8 billion after placing RM12 billion in 2021.
State Economic Exco, Dato ‘Teng Chang Khim said the target was lower than targeted last year because of the uncertainty of Covid19 transmission, especially with the existence of the Omicron variant.
He explained that the situation affected investment promotion programs overseas which may have to be canceled following the closure of the country’s borders. “We also need to be careful to prevent delegates from being
infected with Covid as this has happened before he added.
The State’s focus for 2022 will be on five core clusters in attracting foreign investors, namely electronics and electrical, machinery and equipment, transport equipment, food and beverages, and life sciences. To achieve the target, the government will be implementing more creative promotions in line with current developments, including organising expos online.
“We will also continue the Selangor International Business Summit (SIBS) in a hybrid manner which received encouraging response from investors in last year’s edition,” he concluded.
