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Incentives set to draw investors

Incentives set to draw investors

18 Mar 2024

Selangor government has unveiled plans designed to help businesses, especially those from abroad, establish or expand their operations in the state.

State investment, trade and mobility committee chairman Ng Sze Han said the pilot Selangor Soft Landing (SSL) initiative emerged after considering feedback from last year’s Selangor International Business Summit events.

Ng added that it was important for the state to make things easier for potential investors.

He said the initiative, orchestrated by Invest Selangor Bhd in collaboration with strategic partners, would offer unparalleled support to potential investors seeking to establish or expand their business operations in Selangor.

“SSL is designed to enhance Selangor’s investment appeal and operate with a modest budget of less than RM50,000, while aiming to significantly contribute towards Invest Selangor’s ambitious goal of securing RM50bil in investments for the state this year.

“The objectives of SSL are to provide a holistic platform and support for new and potential investors, optimise their feasibility costs and assist in accelerating the execution of their projects,” Ng said.

Investors eligible for the programme must be first-time investors in Selangor, focusing on one of seven targeted clusters: electronics and electrical, food and beverage, life sciences, transport equipment, machinery and equipment, logistic services, and digital investment.

The initiative not only caters to the pre-investment phase but also supports investors in the post-investment phase requiring a signed sales and purchase agreement or tenancy agreement within Selangor.

Ng said those who qualified for the programme would receive support and access to business ecosystems, complimentary co-working or office spaces, special rates for talent search and support as well as corporate-rate accommodation, during both the pre-investment and post-investment phases.

“This initiative underscores Selangor’s commitment to fostering a conducive investment environment, reinforcing its position as a leading economic hub in Malaysia and South-East Asia,” he added.

The SSL programme is supported by an array of government agencies and private entities, including the Malaysian Investment Development Authority, Invest Selangor, Cyberview Sdn Bhd and Selangor Information Technology and Digital Economy Corporation, and various hotels offering special corporate rates.

The programme will run until Dec 31 on a first-come, first-served basis.

For details, interested investors are encouraged to reach out to Invest Selangor via its official website or email.

Source: The Star