SEPANG, 19 Nov: The state government will formulate several development programmes to spur the domestic investment sector towards being more sustainable and competitive.
The Exco for Investment, Datuk Teng Chang Kim, said that a collective effort is needed in maintaining Selangor’s dominance to continue to lead in the country’s investment sector.
Chang Kim is also certain that Selangor is able to confront he challenges of the future to continue to dominate in the country’s investment sector, and in face, he will continue to strengthen the manufacturing sector and focus on the services sector.
“The challenges are becoming greater. We need to mobilise our effort to reassure foreign investors on why Malaysia is the best destination compared to other Asian countries. And why Selangor is the best state if they choose to invest in Malaysia.
“For foreign investors, Japan is still at the top, followed by the United States and Singapore.
“Meanwhile, referring to the Gross Domestic Product (GDP), the services sector accounts for around 56 percent. This sector is closely related to the manufacturing sector so both need to be given attention,” he said.
Chang Kim said that the state government will organise the ‘Selangor Expo’, a special programme to attract foreign and domestic investors starting next year.
“This is our first step to attract investors. Further information regarding this expo will only be disclosed after the Budget 2015 is tabled,” he said yesterday.
When asked whether the previous Selangor Chief Minister crisis affected state investment activities, Chang Kim said that the situation recovered after the important position was filled.
“The political situation in Selangor stabilised after the Chief Minister changing process was completed. So, for the next three years, I believe that the political situation will not affect the investment sector because we have a strong government,” he said.
For the record, Selangor’s investment performance continues to increase, with the highest number of manufacturing projects approved compared to other states from January to July.
A total of 153 manufacturing projects were approved in Selangor with investments worth RM4.58 billion, followed by Johor with 116 projects (RM18.66 billion) and Penang with 96 projects (RM4.62 billion).
NS
