Selangor Journal

Selangor’s investment RM7.8 billion in 2016

BY: AFIX REDZUAN
SEBERANG JAYA, MAR 5: Dato’ Menteri Besar, Dato’ Seri Mohamed Azmin Ali announced that Selangor recorded a total investment of RM7.8 billion in 2016.
He said, the State Government had targeted a RM6 billion investment however the Malaysian Investment Development Authority’s (MIDA) latest announcement was a proud achievement for Selangor.
“We targeted that investment in the State for 2016 to reach RM6 billion, however MIDA confirmed that investment in Selangor was RM7.8 billion.
“This is a big increase. As I have said before, the basis was foreign investors’ confidence in the State Government’s leadership.
“We are proud of this as it will open-up job opportunities for Selangor children and generate sustainable growth for Selangor,” he said.
He was pseaking during a media conference after launching Permatang Pauh Parliament P044 Election Machinery.
He said the increase was due to the entry of major investors such as Toyota and Rolls Royce, as a result of the State Government’s policy to develop high-technology industry and reduce dependency on foreign labour.
Talking about targets for 2017, Mohamed Azmin said that it will be discussed in the Selangor State Assembly (DNS) session that will begin this March 27.
Referring to MIDA’s website, total investment into Selangor was RM7,880,767,374. That consisted of domestic investment of RM4,529,119,807 while foreign investment was RM3,351,647,567.
That achievement also showed that Selangor was ranked second for the highest investment achieved in 2016, after Johore, while Sarawak was third.

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