SHAH ALAM, June 28: The State Government has been asked to ensure that the state economy is stable and to contribute to improving the people’s quality of life.
DYMM the Sultan of Selangor, Sultan Sharafuddin Idris Shah said that the State Government should formulate strategies to drive economic growth more efficiently in order to help the people deal with the ever increasing challenges of economic conditions.
He said that Selangor adopts an open economic system which is constantly exposed to global market conditions and volatility, and this indirectly affects the people.
“Selangor is a state that practices an open economy which is an economy exposed to the global market conditions and volatility, surely my people will be affected.
“I am very serious regarding the problems of my people, especially in efforts to maintain peace, prosperity and welfare,” he said.
In the meantime, he also praised the State Government which managed to maintain momentum as a major contributor to the country’s economy.
“I am confident that this success is a manifestation of the success, hard work and cooperation between the Government and the people,” he added.
He said that the State Government should play a more aggressive role in increasing the state’s domestic and foreign investment.
In 2012, Selangor recorded total investments of RM 11.73 billion, with a total of 252 projects successfully developed.
For the first quarter of 2013, the total investment in Selangor reached RM700 million.
“Efforts should be intensifies to attract more investors to invest in Selangor.
“These efforts should also focus on high-tech industries, industries that practice green technology so that nature and the environment in Selangor are protected from pollution,” he added.
He said, the service sector will certainly continue to play a hug role in the state economic development.
So far, the service sector’s contribution to the Selangor Gross Domestic Product (GDP) accounts for 56 percent.