MIDA organised its ninth briefing of MIDA Invest Series: Unfolding States’ Business Potential at its headquarters on 7 August 2019.
Mr. Arham Abdul Rahman, Deputy Chief Executive Officer (DCEO) of MIDA during his opening remarks said that Selangor is indeed one of the most preferred investment locations for manufacturing activities. Continued interest by investors had enabled Selangor to register a remarkable level of reinvestments by local and foreign companies, whereby reinvestments in the manufacturing sector constituted 40.3% of total investments in the sector for the state.
The strong presence of multinational corporations (MNCs) and large local corporations (LLCs) in the state such as Spirit AeroSystems, Nestle, IKEA, Panasonic, Q-Cells, KL-Kepong Oleomas, Nippon Electric Glass, Perodua Global Manufacturing, Proton, Top Glove and Hartalega hold much promise for business collaborations and opportunities.
The beginning of Selangor as an industrialised state dates back to the late 1970s where significant changes were made to its economic policy with preference given to industrial, housing and recreational development. As of March 2019, a total of 9,097 manufacturing projects with investments of RM218.4 billion in Selangor were approved by MIDA, creating more than 802,000 employment opportunities. Majority of the employment was in the electrical and electronics (196,158) followed by transport equipment (91,752), rubber products (82,055) and machinery and equipment (52,620) industries.
The event, which was well attended by over 200 participants from various fields featured a panel discussion with a broad range of speakers representing government agencies (Invest Selangor Berhad, Selangor Human Resource Development Centre, Selangor Maritime Gateway), developer (Smart Selangor (M) Sdn. Bhd.) and Government-Linked Corporation (Smart Selangor Delivery Unit).
Also present were Dato’ Hasan Azhari, CEO of Invest Selangor Berhad and Mr Tan Beng Teong, CEO of Selangor Human Resource Development Centre (SHRDC).