Selangor Journal
Selangor state executive councillor for investment, trade and industry Dato’ Teng Chang Khim (left) speaking during the post-report press conference of the Selangor Aviation Show (SAS) 2022 and the Selangor International Business Summit (SIBS) 2022, at Bilik Gerakan MTES, Shah Alam, on December 6, 2022. — Picture by FIKRI YUSOF/SELANGORKINI

Selangor records total investment nearly RM10 bln as of third quarter

By Nasuha Badrul Huzaini

SHAH ALAM, Dec 6 — The Selangor government has recorded nearly RM10 billion of investments in the state as of the third quarter of this year, says state executive councillor for investment, trade and industry Dato’ Teng Chang Khim.

He said the investments derived from various sectors including the manufacturing industry, food and beverages, electrical and electronics, fabricated metal products as well as food manufacturing.

“I expect the total investment recorded in Selangor will reach RM12 billion this year,” he said at a press conference after announcing the achievement of two state’s major events namely the Selangor Aviation Show 2022 and the Selangor International Business Summit 2022, here today.

Also present at the event were Invest Selangor Berhad chief executive officer Dato’ Hasan Azhari Idris and Selangor Information Technology and Digital Economy Corporation (Sidec) chief executive officer Yong Kai Ping.

Teng added that the achievement of getting more investments into the state thus far, was better than in 2021.

“Last year was a rather bad year because even after the enforcement of the movement control order was lifted, most of the international borders remained closed. Therefore, it is impossible to conduct physical meetings and transactions, thus causing a drastic draw in direct foreign investments.

“Even though we have yet to bounce back to the pre-2020 situation, the state’s economy is picking up,” he said.

On December 1, Teng said Selangor has recorded approving a total of 118 manufacturing projects, higher than any other state, with a total investments of RM4.88 billion.

He said Selangor was chosen due to its strategic location, port facilities and highway networks linking various areas.

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Editor Selangor Journal