Selangor keen to become high-tech manufacturing centre, says MB - MIDA | Malaysian Investment Development Authority
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Selangor keen to become high-tech manufacturing centre, says MB

Selangor keen to become high-tech manufacturing centre, says MB

18 Nov 2021

Selangor, the country’s main economic engine, is striving to become a centre of high-tech manufacturing, according to Menteri Besar Datuk Seri Amirudin Shari.

He said the state is actively trying to attract investors with Industry 4.0 capabilities such as automation, industrial internet of things and advanced robotics.

The Menteri Besar said this in his speech during the opening ceremony of the Selangor International Business Summit 2021 (SIBS 2021).

SIBS 2021 is a key networking opportunity to inform ASEAN and international businesses about opportunities in Selangor.

The event showcases growth opportunities primarily in Selangor’s five core clusters, including a range of industries from aerospace to pharmaceuticals, which have the greatest potential to drive economic growth both in the immediate future and into the future.

“One of the most important components of SIBS 2021 will be the annual Selangor R&D [research and development] and Innovation Expo, a networking expo for researchers to demonstrate their ideas, network, and develop collaborations with venture capitalists, financiers, manufacturers, and marketers from around the region,” said Amirudin.

The well-established value chains in numerous industries, structured offline and online connectivity and excellent support from the state government make Selangor an ideal location for foreign investors, he said.

Amirudin stressed that Selangor offers numerous advantages to foreign investors in their plans to penetrate ASEAN and international markets.

Despite the Covid-19 pandemic that hit the country last year, Selangor received a total of RM38.7 billion in domestic and foreign direct investment in 2020, with the manufacturing sector contributing RM18.4 billion while the rest came from the services and primary sectors.

“The state government is also preparing to rebuild the economy with a range of short and long-term recovery initiatives to build on effective pandemic relief measures. In the state budget for 2022 which I will table in the state assembly on Nov 26, 2021, several new initiatives will be introduced to ensure the continuation of our economic recovery plan for the state.

“Recognising that the pandemic has accelerated digitalisation worldwide, Selangor is also expediting its plan in building a digital economy and ecosystem.

“The Smart Selangor Vision 2025, although [it] was developed before the pandemic hit the country, is designed to empower its people, businesses and the public sector by optimising digital technologies towards delivering our Smart State objectives across four key domains — Smart Government, Smart Economy, Smart Community and Smart Digital Infrastructure. This empowerment has become even more important now in a new social and economic landscape post-pandemic.

“This will ensure that Selangor remains at the forefront of the digitalisation wave while at the same time providing the foundation for attracting investors into high-technology and value-added sectors,” he added.

Source: The Edge Markets