By Ashwin Kumar
SHAH ALAM, April 21 — Selangor registered its highest investment record with RM47.8 billion in 2018, which is the highest among other states.
The record-breaking investment injection in the last 25 years is a significant jump from the RM24.73 billion recorded in the preceding year.
Selangor Menteri Besar Dato’ Seri Amirudin Shari said the Malaysian Investment Development Authority (MIDA) had yesterday revealed that aside from the services sector, the manufacturing sector was the biggest contributor.
“The manufacturing sector was the biggest contributor with RM17 billion worth of investment, which is also the highest in Malaysia.
“This shows that Selangor remains an attractive investment destination in 2019 despite the trade war between US and China and the uncertain market downturn,” he said in a statement today.
In facing the challenges ahead of the Covid-19 outbreak and the falling crude oil prices,
Amirudin said that Selangor is in its best position to magnify digitalisation initiatives as well as diversifying revenue streams through innovations and simplifying administrative procedures.
Earlier, International Trade and Industry Minister Datuk Seri Azmin Ali said Malaysia had attracted RM207.9 billion worth of approved investments in the manufacturing, services and primary sectors last year.
The top contributing sectors include the electrical and electronics with RM25.7 billion investments approved, followed by paper, printing and publishing (RM10.8 billion), transport technology (RM8 billion), non-metallic mineral products (RM6.9 billion), and chemicals and chemical products (RM4.8 billion).
Out of the total, domestic investment accounted for 60.4 per cent (RM125.5 billion), while the foreign direct investment (FDI) made up for 39.6 per cent (RM82.4 billion).
