By Alang Bendahara
KUALA LUMPUR, Nov 18 — Selangor is aggressively embarking on plans to rebuild its economy to maintain its stature as the country’s economic powerhouse.
Menteri Besar Dato’ Seri Amirudin Shari said the state had developed several post-pandemic initiatives to revitalise its economy and industries.
“The state government is preparing to rebuild the economy with a range of short and long-term recovery initiatives to build on effective pandemic relief measures.
“In the 2022 state budget, which I will table in the state assembly on November 26, several new initiatives will be introduced to ensure the continuation of our economic recovery plan for the state,” he said in his opening speech for the Selangor International Business Summit (SIBS) 2021 at the Kuala Lumpur Convention Centre, here today.
The event was officiated by the Raja Muda of Selangor, Tengku Amir Shah, who represented Selangor Ruler Sultan Sharafuddin Idris Shah Alhaj.
Amirudin said the state was also fast in changing its strategies and focusses during the pandemic and post-pandemic to cater to both the people and the industries.
“To ensure that the state’s economy and subsequently the country’s economy remains resilient and emerges from the health crisis on a solid footing for recovery, Selangor has quickly pivoted our strategies.
“Even as Selangor strived to support its citizens, industries and businesses during the health crisis, we also remained committed to facilitating investors’ success in ensuring their operations can get up and running smoothly.
“This strong focus has enabled investors in Selangor to continue to thrive amidst the Covid-19 pandemic and will continue to be a major factor driving investor interest into Malaysia and specifically into Selangor,” he said.
Amirudin said Selangor’s position as Malaysia’s main engine of its economy and as the destination of choice for domestic and overseas investors in the manufacturing and services sectors was severely tested during the pandemic.
He admitted the Covid-19 pandemic had been a testing time for the state causing widespread disruption of life, work and business worldwide in the last two years.
“Even so, in 2020, Selangor received RM38.7 billion amount of domestic and foreign direct investments, where the manufacturing sector contributed RM18.4 billion, while the remaining came from the services and primary sectors,” he said.
Amirudin said SIBS 2021, a key annual initiative by Selangor, is a major networking avenue to introduce Asean and international businesses to find out the opportunities available in the state.
He added that the event represents a chance to connect business to new opportunities is undoubtedly important amidst a highly challenging economic environment today.
“Through its various conferences and exhibitions, SIBS 2021 will present growth opportunities that are available in the state, especially in Selangor’s five core clusters.
“These five core clusters include a range of industries, ranging from aerospace to pharmaceuticals, which have the highest potential to drive economic growth for the immediate period as well as the future.
“Additionally, the Food & Beverage (F&B) cluster is one of the fastest-growing industries, especially the halal market, which has the potential to spur the state and country’s economy tremendously,” he said.
With the theme ‘Selangor the Gateway to Asean’, the hybrid regional annual summit takes place at the Kuala Lumpur Convention Centre from November 18 to 21.
The fifth edition of the state government-backed conference and exhibition themed as ‘Selangor the Gateway to Asean’ brings together global brands and congregating industry players from around the world.
The physical event features about 500 booths and can be accessed virtually via www.selangorbusinesshub.my, which showcases nearly 800 booths.
SIBS 2021 features dedicated expos on four main sectors — food & beverages; medical products and services; research & development and innovation; and industrial parks.
Also present were Selangor Investment, Industry and Trade, Small and Medium Industries Committee chairman Dato’ Teng Chang Khim, Invest Selangor chief executive officer Datuk Hasan Azhari Idris and Selangor Information Technology and Digital Economy Corporation (Sidec) chief executive officer Yong Kai Ping.
Selangor State Legislative Assembly speaker Ng Suee Lim, State Secretary Dato’ Haris Kasim and State Legal Adviser Dato’ Salim Soib @ Hamid were also present.
