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Strengthening high-end investment

Strengthening high-end investment

11 Dec 2022

THE Selangor government’s Selangor Aviation Show (SAS) is part of its strategy to strengthen high-end investment in the state. So far, Selangor has held two SAS events with the first being in 2021 and the second from Sept 8 to 10 this year.

The show is part of the Selangor Aerospace Action Plan, which is aimed at turning the state into an aerospace hub by 2030. State industry and trade committee chairman Datuk Teng Chang Khim said the turnout this year exceeded expectations.

“We drew 10,563 visitors, which surpassed our target of 8,000 people, to the event over the three days. The SAS also recorded potential transactions worth RM1.174bil,’’ said Teng.

He added that the event had a total of 62 exhibitors from five countries that were the world’s best in the various aerospace and aviation industries.

“The total number of aircrafts displayed in SAS 2022 was 30, which was double the number of aircraft on display in 2021,” he said.

Teng also said 14 Memorandums of Understanding (MoUs) on various aerospace industry sub-sector collaborations were signed during SAS 2022.

During his speech at SAS 2022, Selangor Mentri Besar Datuk Seri Amirudin Shari had shared that SAS 2021 had received 5,000 visitors, with 13 MOUs signed and business deals amounting to some RM100mil made.

At this year’s event, opened by Raja Muda of Selangor Tengku Amir Shah Sultan Sharafuddin Idris Shah, Amirudin also said the state was the location of choice for aerospace and aviation companies.

In his speech at the event, Teng had said that Selangor had identified the aviation industry as a high-impact industry for the state.

He added that high-impact industries were among the catalysts to propel Selangor’s economic growth within the next 10 years.

When contacted, he said the state’s focus was more on business and general aviation as opposed to civil aviation.

“Civil aviation covers the airline industries while business and general aviation covers private jets, chartered flights, helicopters, small aircrafts and drones,” he noted.

Besides the SAS, Selangor also held the sixth Selangor International Business Summit 2022 (SIBS 2022) in October.

Teng said SIBS 2022 had a total of 906 exhibition booths and occupied eight expo halls, four conference halls, two plenary halls and two banquet halls at the Kuala Lumpur Convention Centre.

The summit drew 44,342 visitors, mostly business owners, importers, wholesalers, distributors, retailers, and hypermarket purchasing departments, he added.

“A total of 380 buyers from Malaysia and 18 other countries participated in business matching sessions,’’ said Teng, adding that 60 countries had participated in the event.

He pointed out that SIBS 2022 also recorded the highest potential negotiated sales amounting to RM1.45bil.

Being the most developed and prosperous state in Malaysia, Selangor actively pursues business endeavours through its investment arm Invest Selangor.

Teng recently revealed that the state had received some RM30.82bil in domestic and foreign investment from January 2020 to June 2022.

Out of that total, local investment stood at RM19.160bil while foreign investments came up to RM11.659bil, said Teng.

The state also approved 689 manufacturing projects during the same timeframe with 39,287 potential job opportunities created.

Source: The Star