By Nasuha Badrul Huzaini
SHAH ALAM, Aug 23 — Selangor has recorded an excellent achievement in investment and industrialisation sectors in 2020 by exceeding the RM12 billion investment target, says Sultan Sharafuddin Idris Shah Alhaj.
The Sultan of Selangor said despite the Covid-19 pandemic, 19,950 jobs were created due to the approved manufacturing projects in the state.
“The Petaling district recorded the highest investment value compared to other districts, with a record of more than RM5.934 billion. This is followed by the Kuala Langat (over RM5.785 billion) and Klang (over RM3.477 billion). The total investment value in 2020 exceeded the RM12 billion target.
“As for this year, the investment target remains at RM12 billion based on the expectation of reduced investment activities due to the Covid-19 outbreak and the country’s ongoing economic recovery process,” His Royal Highness said when opening the Fourth Meeting of the 14th Selangor State Legislative Assembly today.
The Selangor Ruler said the achievement was due to the state government’s policies that facilitate the business environment and the complete and modern infrastructures provided by the state.
“I am grateful that Selangor remains the choice for local and foreign investors. In 2020, a total of 324 manufacturing projects were approved by the Malaysia Investment Development Authority (MIDA) in Selangor with a total investment of RM18.43 billion.
“Out of the total, some RM6.95 billion or 37.7 per cent were from local investments and the remaining RM11.48 billion or 62.3 per cent were from foreign investments. The top investors are from Japan followed by the Netherlands and China,” he said during the ceremony, which was also broadcast live on Media Selangor’s Facebook today.
Even though Selangor is still being chosen as the top investment destination, Sultan Sharafuddin said the enforcement of the movement control order has undeniably affected the people’s source of income and jobs.
“This situation has led to the increased unemployment rate in the country. In 2020, the unemployment rate had risen to 4.9 per cent compared to 3.2 per cent in 2019.
“After a slight growth recorded early this year, the unemployment rate has increased again to 4.8 per cent after some 40,600 workers lost their jobs in June,” His Royal Highness added
The 14th Selangor State Legislative Assembly is held at the Annex Building for nine days, from today to September 6.
Catch the live session on Media Selangor’s Facebook and SelangorTV Youtube channel and follow news reports on the sitting via selangorkini.my and selangorjournal.my.
