Selangor Journal
An audience is watching Selangor Menteri Besar Dato’ Seri Amirudin Shari delivering his officiating speech at the opening of the Virtual Selangor International Business Summit (SIBS) and the Virtual Selangor Asean Business Conference (SABC) 2020 held online, on October 14, 2020. — Picture by FIKRI YUSOF/SELANGORKINI

New projects secured despite economic headwinds — MB

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By Selangor Journal Team

SHAH ALAM, Oct 14 — Selangor remains an attractive investment destination as it continues to secure several projects from multinational corporations with many in the pipeline.

Its Menteri Besar Dato’ Seri Amirudin Shari said despite the negative outlook in economic growth projections, such as the forecasted foreign direct investments (FDIs) in Asia to fall between 30 per cent and 45 per cent year-on-year, Selangor continues to enjoy a solid reputation among global investors.

He said in 2019, the state had received a total of RM17 billion (US$4.09 billion) of approved investment in the manufacturing sector, with the FDI made up 61.1 per cent or RM10.41 billion (US$2.51 billion)

“This achievement goes on to show that in Selangor, businesses could still reap the rewards as a result of the strong economic fundamentals we have to offer, our pro-business policies, excellent infrastructure as well as the vibrant and dynamic talent pool graduating from the many universities in Selangor.

“Over the years, this administration has braved strong winds, and risen to the challenges to make Selangor the preferred destination to invest and do business in the region.

“Hence, the Covid -19 pandemic is just another challenge that we have to go through along the way and, Insya Allah (God Willing), we will be able to make it, with the strong support from everyone,” he said in his officiating 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.

The SIBS 2020 was launched today and 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 Virtual SIBS aims to bring together global brands and industry players from around the world to help business players reset and reboot while providing valuable knowledge-sharing, networking and business matching for all trade visitors.

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