Selangor makes investment pitch to Taiwanese investors

Selangor makes investment pitch to Taiwanese investors

07 Mar 2023

Selangor, the country’s top investment performer for most of the past five years, has sent a delegation to Taiwan to present the state’s attractiveness to potential investors there.

Led by state executive councillor Datuk Teng Chang Khim, the delegation hopes to attract more quality investments from Taiwan by highlighting the uniqueness of Selangor.

“As a dynamic state with a rapidly growing economy, Selangor’s established reputation positions the state as an ideal destination for investors seeking to tap into the Southeast Asian market,” said NCT Group, whose founder and managing director Datuk Seri Yap Ngan Choy was part of the delegation.

In collaboration with the Malaysian Investment Development Authority (MIDA) Taipei office, the Selangor government’s investment promotion agency Invest Selangor met with existing and potential Taiwanese investors to update the initiatives of the state.

The initiative includes efforts to create a resilient business ecosystem through the establishment of the Integrated Development Region in South Selangor (IDRISS) under the First Selangor Plan 2021-2025 and development of Selangor’s first managed industrial park called NCT Smart Industrial Park (NSIP).

NSIP is one of the key projects of IDRISS. 

“The representatives from NCT Group of Companies took the opportunity to present the concept and features of NSIP, offering a solid base for business to Taiwanese investors.”

According to NCT, the Selangor investment delegation met with leaders in the Taiwan electronics industry with an established base of operations in Selangor.

This included Wistron Information Technology, Ally Logistic Property and Tron Energy. 

NCT said the delegation presented an excellent opportunity for Selangor to further enhance its position as a regional investment hub. 

“By attracting more high-quality investment projects from Taiwan, Selangor is set to elevate its economic growth while unlocking greater opportunities to benefit the people of Selangor,” it added. 

MIDA said Selangor had attracted a total domestic direct investment of RM31.2 billion (about US$6.7 billion) and a total foreign direct investment of RM36.4 billion (US$7.88 billion) from 2017-2021.

The approved investment projects amounted to more than RM304.2 billion (about US$67.6 billion), with 1,329 projects put into operation and 84,000 job opportunities created during the period.

Source: NST