BUSINESS

SELANGOR APPROVES 1,506 MANUFACTURING PROJECTS, GENERATING INVESTMENTS WORTH MORE THAN RM88 BLN

16/11/2023 01:28 PM

SHAH ALAM, Nov 16 (Bernama) -- A total of 1,506 manufacturing projects with an investment value of RM 88.88 billion have been approved in Selangor from 2018 to June 2023.

State Investment, Trade and Mobility Exco, Ng Sze Han said the amount comprised local investments totalling RM35.88 billion while RM53.0 billion were foreign investments.

“The approved manufacturing projects created 95,610 jobs," he told the Selangor State Legislative Assembly (DUN) here today.

He said this in response to a question from Pua Pei Ling (PH-Bukit Lanjan) on the amount of foreign investments recorded in Selangor between 2018-2023.

Ng said the state government has been taking steps to boost foreign investments, including drafting policies such as the First Selangor Plan (RS-1), new regional development plans such as the Integrated Development Region in South Selangor (IDRISS) as well as large-scale annual programmes such as Selangor International Business Summit and the Selangor Aviation Show.

“Additionally, the state government is also actively carrying out investment promotion programmes with chambers of commerce in Malaysia and abroad.

“This includes investment missions, focusing on industries such as life sciences, food and beverage (F&B) manufacturing, electrical and electronic product manufacturing, the aerospace industry and drones as well as machinery and equipment," he said.

As for the services sector, Ng said the state government has identified sectors that have the potential to grow in Selangor, including the logistics service industry and digital investment such as global business services, data centres and creative content technology.

“For the life science development sector, the 'Selangor Lab Partnership' programme was introduced to bridge the gap between educational institutions and industry to enable a more focused collaborative research and the products can be commercialised," he said.

-- BERNAMA


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