Selangor Journal
State executive councillor for investment, industry and trade Dato’ Teng Chang Khim speaks at the launch of the Selangor SME Digitalisation Conference at Kuala Lumpur Convention Centre, Kuala Lumpur, on October 8, 2022. — Picture by SIDEC

Selangor attracted over RM60 bln in approved investments last year, boost efforts for economic growth — Exco

By Norrasyidah Arshad

PETALING JAYA, March 21 — The Selangor government has attracted RM60 billion in approved investments involving various sectors last year, says Dato’ Teng Chang Khim.

The state executive councillor for investment said that the figure contributed 22.6 per cent to the total approved investment recorded in the country.

“The value involved investment in various sectors, especially manufacturing. Last year, Selangor has also recorded 265 investment projects totalling RM12.2 billion.

“Following the achievement, Invest Selangor Bhd will boost its efforts in attracting more investors to the state,” he said when launching the 2023 Selangor International Economic Summit, here yesterday.

Last week, Menteri Besar Dato’ Seri Amirudin said the state’s success in attracting more than 200 manufacturing projects last year demonstrated investors’ trust in Selangor as one of the main investment destinations in the country.

Based on the report issued by the Malaysian Investment Development Board (Mida), Amirudin expressed his confidence that the state would be able to create more job opportunities.

Meanwhile, Teng said that the annual gross domestic product increase of up to 7 per cent is among the 14 goals outlined in the First Selangor Plan (RS-1).

He said that the state’s development plan includes 262 projects and has targetted to have approved investments that amount to between RM25 billion and RM35 billion each year.

Teng said that the five-year blueprint also aims to create employment opportunities for between 3.5 and 3.8 million people, equivalent to about 97 per cent of the total labour force in Selangor.

“I am confident that this action plan would be able to make Selangor in becoming a smart and prosperous state by 2025,” he said.

The RS-1 was unveiled on July 27 last year and is envisioned to pave the way for the state’s long-term success and achieve its commitment to contributing 30 per cent of the country’s GDP by 2025.

The plan, which kicks off in 2021, includes several game-changing projects such as the Sabak Bernam Development Area (Sabda), the Integrated Development Region in South Selangor (Idriss) and the Selangor Maritime Gateway.

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