RS-1 boosts Selangor investments this year: Knight Frank
19 Oct 2023
The exceptional growth in investments for the manufacturing sector in Selangor this year can be attributed to implementing and enforcing the First Selangor Plan 2021-2025 (RS-1), according to Knight Frank Malaysia.
In the first half of this year, it recorded RM14.75 billion in investment for the manufacturing sector, higher than the RM5.13 billion achieved over the same period last year.
Knight Frank executive director of research and consultancy Amy Wong said the forward-thinking initiative has attracted more investment opportunities and provided a future-proof infrastructure for potential investors.
“With RS-1 in place, Selangor is poised to become a magnet for industrial development, offering a conducive environment for businesses to thrive,” she said in a statement today.
Under the plan launched last year, the state government identified nine high-impact focus industries which will propel and strengthen Selangor’s economic development — ports and logistics, digital economy, aerospace, electrical and electronics, mechanical and engineering, halal, automotive, life sciences, tourism, and agrotechnology.
“The efforts to strengthen the nine focus sectors will be driven by four key strategies — facilitating economic recovery post-Covid-19, strengthening strategic core industries, catalysing the development of new and emerging sectors and enhancing the state’s competitiveness,” Wong said.
She added this would be supported by a variety of projects, programmes, and initiatives, which would be developed based on the current issues and challenges faced.
Knight Frank has a strong presence in Malaysia offering high-quality professional advice and solutions across a comprehensive portfolio of property services.