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Selangor on track to hit RM10b investment target, says state exco

Selangor on track to hit RM10b investment target, says state exco

05 Jul 2022

Selangor is on track to achieve its investment target of RM10 billion for this year despite the current economic situation, says Selangor state executive councillor for investment, industry, trade, and small and medium industries Datuk Teng Chang Khim.

He said the state is being practical and pragmatic in setting its target and is optimistic based on the current growth.

“For the first quarter, we managed to obtain RM3 billion, and for the second quarter, I believe we can obtain another RM3 billion.

“Economists have also predicted that for the second half of the year, the economy will slow down but we are not sure if the foreign direct investment will go slow,” he told reporters after the launch of the Selangor International Business Summit 2022 here today.

He said Selangor is also looking into the digital economy and logistics to expand its investment sectors. However, it will take some time as there is a need to look into its capabilities first.

“We are doing preparations on that before we move full force to promote our industry. Selangor is moving very fast but there is a speed limit as we have to look into our capabilities also,” he noted.

Source: Bernama