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November 30, 2009 15:08 PM

Selangor Expects Six To Seven Pct Economic Growth Next Year

PETALING JAYA, Nov 30 (Bernama) -- Selangor, the country's most developed state, is expected to achieve an economic growth of between six per cent and seven per cent next year, Menteri Besar Tan Sri Abdul Khalid Ibrahim said Monday.

"We see Selangor's growth trend at about two per cent above the national growth. For example, if the country's growth is at four per cent, Selangor should record a growth of between five per cent and six per cent," he told reporters after officiating the International Conference on Urban Regeneration here today.

A Gross Domestic Product (GDP) growth of five per cent has been projected for Malaysia in 2010 judging from the encouraging global economic performance and renewed domestic demand.

Khalid said it was important for Selangor to grow faster than other states to ensure a healthy contribution to the country's growth.

He said Selangor would continue to attract foreign direct investments (FDIs) into the state.

"Selangor's share to the nation's GDP was about 21 per cent in 2007, with substantial share recorded in the manufacturing, transport and, storage and communication sectors," he said.

Khalid said Selangor registered a marked decline in foreign direct investments between the end of 2008 and June 2009 because of the global economic downturn.

" However, there is already a marked increase in the latest numbers released as of September. If we could achieve between RM4 billion and RM5 billion in FDIs this year, it will be a very commendable record," he added.

Last year, Selangor attracted over RM10 billion worth of foreign direct investments into the state.



--BERNAMA

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