Selangor’s economy is expected to continue to surge this year, with its investment target increasing to RM50 billion compared to last year, said state executive councillor for investment Ng Sze Han.
Last year, the state government aimed for RM45 billion in investments, which is now expected to increase further due to several factors, including Selangor’s strategic position.
“Recently, we have received numerous from foreign countries, particularly China, including battery factory Tenpower, which is interested in investing in Selangor as it has Port Klang and two airports (the Sultan Abdul Aziz Shah Airport in Subang Jaya and the Kuala Lumpur International Airport).
“This is an advantage for Selangor, besides having several industrial sites being developed as the main attractions. Investors can choose the site suitable for them,” he said.
“One of the attractions is logistics as Selangor is located in the middle of the Peninsula and of Southeast Asia, making its location highly suited for investment.
“Several mega projects will enter and establish themselves in Selangor… we will announce them later,” he said.
Last year, Ng announced that Tenpower, China’s largest lithium-ion battery manufacturing plant, has agreed to develop a 48-acre factory in Kuala Langat with a RM1.3 billion investment value.
During a joint visit with Invest Selangor Berhad to the country, he said Tenpower’s investment will also create 700 job opportunities, including for engineers.
