By Nasuha Badrul Huzaini
SHAH ALAM, Jan 16 — More investments are expected to come into Selangor this year following the reopening of China’s borders, says state executive councillor for trade, industry and investment Dato’ Teng Chang Khim.
He said that based on investment records in recent years, Selangor has had various collaborations with investors from China.
“The Covid-1 9 pandemic and growing tension over a trade war between China and the United States has caused investors, either from the East or West, to shift their focus to the Southeast Asia region.
“They are keen to make this region their transit hub. Therefore, we have to leverage this opportunity to woo more investors into the state,” he said after the state-level Chinese New Year celebration press conference, here today.
Also present during the event was Invest Selangor Berhad chief executive officer Dato’ Hasan Azhari Idris.
Commenting on challenges lying ahead this year including the global economic slowdown, Teng said Selangor has taken a cautious approach and has prepared its development plan for the next five to ten years, namely the First Selangor Plan (RS-1).
“The plan is to be executed for five years and the results would be seen later. The state government hopes that RS-1 would help Selangor achieve its goal of contributing a gross domestic product of 30 per cent from the current 24.8 per cent.
“What is more important now is that the state government already has a plan in place. We have several potential projects and have provided the best packages as well as incentives to draw more investments into Selangor.
“Among the projects include the Integrated Development Region In South Selangor (Idriss), the Sabak Bernam Development Area (Sabda), as well as the Selangor Maritime Gateway,” he added.
On August 2 last year, Amirudin stated that RS-1 will be able to assist the state in contributing 30 per cent to the nation’s GDP by 2025.
Despite the state’s target in the 2022 Selangor Budget to contribute 30 per cent to the GDP by 2030, he is confident that Selangor will be able to reach that goal by 2025 with the implementation of RS-1.
He stated that RS-1 takes into account the implementation aspects of comprehensive policies, programmes, and initiatives between the state and federal government without excluding the five-year plan of the 12th Malaysia Plan (MP12).
