SEPANG, Aug 24 — Selangor is targeting to secure between RM8 to RM10 billion worth of investments in the manufacturing sector for this year based on the current economic situation.
Menteri Besar Dato’ Seri Amirudin Shari the state had secured RM3 billion within three months after the economic sectors were allowed to resume operations in May.
“We understand the investment situation but we try to achieve significant value. Last year, we achieved RM17 billion (in approved manufacturing projects) and RM18.9 billion in 2018, but because of Covid-19, we had to lower it (our target),” said Amirudin, adding that enhancement of the target can be further achieved via investment at Malaysian Investment Development Authority (Mida).
According to Mida, Selangor was the top investment destination in the country last year and recorded the highest investments approved of RM47.8 billion with 315 approved projects.
Meanwhile, Amirudin said innovation and tech investments by the Hartalega Next Generation Complex (NGC) can be used for the Industrial Revolution 4.0, or 4IR, by producing more high-skilled workers.
“This effort could be made through the funding via the Technical Skill Initiative and Iktisas Smart Selangor and we welcome major investments but this has to be planned out to see the benefit in human resource development as well as human capital,” he said.
