Selangor Journal
State executive councillor for trade and investment Dato’ Teng Chang Khim speaks during the economic forum session at the First Selangor Plan Pre-Launch Symposium, at the Shah Alam City Council (MBSA) Convention Centre, Shah Alam, on July 7, 2022. — Picture by FIKRI YUSOF/SELANGORKINI

Selangor sets economic growth projection of 6.3 pct this year — Teng

By Nasuha Badrul Huzaini

SHAH ALAM, July 7 — Selangor anticipates its gross domestic product (GDP) to expand by 6.3 per cent this year, up from the 5 per cent it did last year, says state executive councillor for investment Dato’ Teng Chang Khim.

He said the anticipation is a result of the state’s GDP growth rate, which has been trending upwards since a few years ago.

With the First Selangor Plan (RS-1), which includes nine economic sectors that would further boost the state’s economy, Teng said that the blueprint aims to reinforce Selangor’s position as the preferred destination for high-quality investment in Malaysia and the Asean region.

The sectors include port and logistics, digital economy, electrical and electronics and mechanical and engineering, life science, tourism, aerospace, automotive, halal hub and agrotechnology.

“We want to focus on boosting the development within the state as well as outlining our strategies to help facilitate the economy’s recovery.

“Apart from that, we also want to focus on expanding new sectors in Selangor, such as logistics, as it plays a significant role to help grow the economy,” he said as a panellist during the economic forum session at the First Selangor Plan Pre-Launch Symposium at the Shah Alam City Council (MBSA) Convention Centre, here today.

Other panellists during the session were state executive councillor for infrastructure Izham Hashim, state executive councillor for halal industry Mohd Zawawi Ahmad Mughni and Menteri Besar Selangor (Incorporated) chief executive officer Norita Mohd Sidek.

Teng added that one of the state government’s main roles is facilitating investors keen on exploring Selangor’s potential.

“We have to strengthen good governance and our policy concerning the ease of doing business for investors, thus all procedures must be facilitated accordingly.

“This is also a challenge for the administration, including how we adopt technology and digitalisation to retain investors in Selangor.

“As for investors themselves, it would not be an easy decision for them to exit Selangor as they usually have a long-term plan, like a 20-year plan, before deciding to come and invest here,” he said.

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