BY HAFIZAN TAIB
Selangor’s economic growth in the past several years is expected to continue with the thriving investment market and industrial activities.
The State Government’s strategic plan in increase investment has directly impacted Selangor’s economic activities in line with the high market demand and increasing employment opportunities, attracting domestic and foreign investors.
The Investment, Small & Medium Industries, Trade and Transport Exco, Dato’ Teng Chang Khim said the positive development may enable Selangor to exceed its targeted RM6.5 billion investment value this year.
“This year, we target RM6.5 billion for Selangor but hopefully we can achieve a higher figure this year.
“This is because we targeted RM6 billion but achieved RM7.88 billion,” he said.
He said, the expectation is based on past trends with Selangor being on the right track so far.
Selangor continues to be a potential investment destination with domestic and foreign investors showing interest to participate in various activities including the manufacturing industry.
The State Government’s various programmes and activities have opened up opportunities for industry players to participate to share ideas and technologies for mutual progress.
Programmes such as the Selangor Industrial Ride 1.0 and Selangor International Expo (SIE) have always received encouraging response and participation. In fact an estimated RM100 million worth of transaction was generated out of these last year.
SIE which has been ongoing since 2005 is an annual trade expo to place Selangor as a commercial and trading hub as well as a gateway into the Asean region.
It has been showing positive development when it successfully generated and estimated RM100 million worth of transaction last year.
Teng said, the SIE 2017 from last September 7 to 17 was the third time and unlike the previous, this time it was extended to 10 days due to encouraging response.
“Through SIE, we aim to enhance effort to internationalise e-trading, bio-technology, aerospace and the halal industry.
“This is because these industries are developing in line with a global economic wave,” he said.
Given the encouraging economic achievements, Selangor continues to attract domestic and foreign investors from countries like China, Germany, United Kingdom, Korea, Unites States, Thailand, Denmark and others.
Recently the State Government managed to attract a huge investment from IKEA with the company’s interest to invest and develop a distribution centre in Selangor costing RM1 billion.
IKEA will develop the centre in Pulau Indah, Klang and it will become the third largest distribution centre in the world besides the ones in California, United States and Dusseldorf, Germany.
Dato’ Menteri Besar, Dato’ Seri Mohamed Azmin Ali said high-tech development will create jobs for young people in Selangor who specialise in technology, and it can generate a sustainable economic growth.
Selangor’s economy continues to prosper
