SHAH ALAM – Selangor continues to perform at its best economic performance as its manufacturing sector generates RM 6 billion worth of investment for the first half of the 2019 financial year which had ended at 30 June.
Selangor Menteri Besar Amirudin Shari said the record showed an increase compared to the same period last year, which had only recorded RM 3.8 billion worth of investment.
“In other words, we are on track to achieve a two-digit result by the end of the year with a conservative and moderate sum of RM 10 billion,” he said.
Amirudin said this during a Dialogue With Selangor Menteri Besar and The Hong Kong Chinese Importers and Exporters Association (HKCIEA), at the Concorde Hotel on 10 September.
Also present were exco of Investment, Industrial and Trade and Transport, Dato’ Teng Chang Khim and Vice Chairman of the Chinese People’s Political Consultative Committee (CPPCC), Leung Chun Ying and HKCIEA delegates.
Amirudin said domestic and foreign direct investment was an important part of Selangor’s investment success after attracting RM 210.6 billion in investment through over 7,900 manufacturing projects since 1987.
In line with the positive economic outlook, Amirudin said it could create more than 700,000 jobs for the people of the state.
“According to investment statistics released by the Malaysian Investment Development Authority (MIDA) in 2018, that figure exceeded expectations when the investment of RM 18.9 billion was brought to Selangor, which also showed a 239 percent growth from the previous year,” Amirudin noted.
“This is also the highest investment received in the last one year over the past 25 years, and even this impressive achievement record is a great testimony for Selangor to continue to be Malaysia’s preferred investment destination,” he said.
At the same time, he also expressed pride when the Hong Kong Special Administrative Region (SAR) came in third among the contributing countries with an investment value of RM 945.40 billion (USD 225.44 billion).