By Alang Bendahara
SHAH ALAM, Aug 1 — A total of 72 manufacturing projects with an investment value of RM3.27 billion have been approved by the Malaysian Investment Development Authority (Mida) in Selangor as of March.
State executive councillor for trade and investment Dato’ Teng Chang Khim said the state through Invest Selangor Bhd will continue to attract more investment by focusing on strategies involving strategic planning and promotions.
He said this to a query from Sungai Tawar state assemblyman Datuk Rizam Ismail in the Selangor State Legislative Assembly on the number of investments received by the state so far this year and plans to attract new investment for 2022 and 2023.
Teng said the First Selangor Plan (RS-1) has identified the development of economic zones in the Sepang and Kuala Langat districts, which involve tourism, commercial and industrial.
“These projects are able to attract and increase foreign direct investment into Selangor. Also, the establishment of the Selangor Golden Triangle Development Special Task Committee will help to stimulate the economy and property market for Sepang and Kuala Langat districts.
He said the Selangor Biotechnology Action Plan will also attract investors in the biotechnology sector.
“The Selangor Biotechnology Coordination Office (SBIOCO) under Invest Selangor will oversee the projects and develop the ecosystem for the industry,” he said.
Teng said the state also plans to attract more investment in the rail service industry through the establishment of the Selangor Rail Industry Council.
“This is because the rail industry has the potential to bring a huge economic impact to the state’s economy in the future,” he said.
As for promotional efforts, Teng said the state will continue its trade mission to promote life sciences, food and beverages, electrical and electronic as well as the machinery & equipment sectors.
“We will also promote two new sectors which are logistic services and digital investment which are among the fastest growing industries in Selangor,” he said.
He said the state will continue organising the Selangor International Business Summit (SIBS) and Selangor Aviation Show (SAS) this year which have proven to be successful in attracting both local and foreign investment.
“We will also encourage the opening of new industrial areas based on the Managed Industrial Park (MIP) concept to provide a more conducive environment for investors,” he said.
Teng said the state will also continue its engagement with existing investors in the state.
“We will continue to hold monthly meetings and discussions with investors to solve any issues as this harmonious engagement session will make them want to reinvest or expand their business in Selangor,” he said.
