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Selangor approved 72 manufacturing projects worth RM3.3b

Selangor approved 72 manufacturing projects worth RM3.3b

02 Aug 2022

A total of 72 manufacturing projects with an investment value of RM3.27 billion have been approved by the Malaysian Investment Development Board (Mida) in Selangor as of March through Invest Selangor Bhd, said Selangor trade and industry exco Datuk Teng Chang Khim.

“Selangor state will continue to attract more investment by focusing on strategies involving strategic planning and promotions,” He said this in response to Datuk Rizam Ismail’s on the amount of investment received by the state so far this year and plans to attract new investment for 2022 and 2023,” he told the state legislative assembly yesterday.

Teng added that the First Selangor Plan (RS-1) has identified the development of economic zones in Sepang and Kuala Langat districts involving tourism, commercial, and industrial as the projects can attract and increase direct investment in Selangor.

“In addition, the establishment of a Special Task Committee for the Development of the Selangor Golden Triangle will help stimulate the economy and real estate market for the Sepang and Kuala Langat districts,” he added.

“The Selangor state government will continue to attract more investment by focusing on strategies to implement strategic planning and promotion,” he said.

He said Selangor will continue organising the Selangor International Business Summit and the Selangor Aviation Show this year, which have proven successful in attracting local and foreign investment.

“We will also encourage the opening of industrial areas based on the new Managed Industrial Park concept to provide a more conducive environment for investors,” he said.

Teng added that Selangor will continue its trade mission to promote life sciences, food and beverages, electricity, and electronics as well as the machinery and equipment sector as an effort to promote the state.

“We will also promote two new sectors namely logistics services and digital investment which are among the fastest growing industries in Selangor,” he said.

At the same time, Teng said Selangor is also planning to attract more investment in the rail service industry through the establishment of the Selangor Rail Industry Council because the industry has the potential to bring great economic impact to the state’s economy in the future.

The state would also continue its engagement with existing investors in the state.

“We will continue to hold monthly meetings and discussions with investors to resolve any issues because this harmonious engagement session will make them want to invest again or expand their business in Selangor,” he said.

Teng also said the Selangor Biotechnology Action Plan will also attract investors in the biotechnology sector and the Selangor Biotechnology Coordination Office under Invest Selangor will oversee projects and develop an ecosystem for the industry.

Source: The Malaysian Reserve

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