By Selangor Journal Team
SHAH ALAM, Oct 14 — Selangor aims to help Malaysia rise from the economic conundrum caused by the Covid-19 pandemic.
State Investment, Industry and Commerce and Small and Medium Enterprise Committee chairman Dato’ Teng Chang Kim said Selangor possess the right mixture to create a remedy to bring back prosperity into the country.
“Despite the challenges and less encouraging economic outlook, Selangor continues to take on the role of a regional economic powerhouse.
“Firstly, (by) contribution of over 24 per cent to the Malaysian GDP (gross domestic product) on an annual basis. Secondly, (having a) comprehensive and complete infrastructure.
“Thirdly, (offering a) competitive and business-friendly environment with major ICT (information, communication and technology), innovation and manufacturing hubs. Fourthly, (offering) the largest multilingual and talented workforce in the country, supported by over 160 higher learning institutions.
“…(Thus) Selangor is ready to continue to lead the country out of the economic uncertainties sooner than later,” said Teng in his welcoming speech at the opening of the Virtual Selangor International Business Summit (SIBS) and the Virtual Selangor Asean Business Conference (SABC) 2020, which was held online, today.
He added that Selangor also has a strong track record that serves as a great testimony for Selangor being chosen as the preferred investment destination in Malaysia.
“Domestic and foreign direct investments have been an important part of our success story. In the last five years alone, Selangor has attracted more than RM57.42 billion or USD13.8 billion worth of total investments through more than 1,222 manufacturing projects.
“Through these investments, some 80,157 employment opportunities have been created in Selangor.
However, he said with the current economic situation, the state understands the need for it to continuously improve its services to maintain its leadership and position in the country as well as to expand further into the region.
“Even in the wake of the pandemic, in the first half of 2020, Selangor recorded a record of 122 approved manufacturing projects, with a total capital investment amounting to RM3.4 billion or USD817 million,” he said.
Adopting the new norm, Teng said the state’s main business summit still holds tremendous opportunities despite health concerns which led to it being hosted on a virtual networking business platform – the Selangor Business Hub (SBH).
“Despite its virtual format, the SIBS will continue to be one of the platforms for Selangor to engage the regional players and explore new collaboration and opportunities for everyone.
“We will continue to engage interested parties to maintain our position in the country as well as to make our mark in the region.”
The Virtual SIBS 2020 was launched by Selangor Menteri Besar Dato’ Seri Amirudin Shari.
The online event will run from October 14 to 17, and offers three main components — Selangor International Expo, Selangor Asean Business Conference and Selangor Smart City and Digital Economy Convention.
The online business summit offers virtual expositions, webinars, live conferences, online networking and business matching opportunities.
