By Norrasyidah Arshad
KUALA LUMPUR, July 25 — Selangor is looking to stay on its trajectory of excellence, to remain among the top investment contributors to the nation.
Menteri Besar Dato’ Seri Amirudin Shari said as the state has recorded RM12 billion in the first quarter, this goal is achievable, and will be further helped along by the state’s development plan.
“We are in third place with RM12 billion worth of investments. Last year, we were in second place with RM55 billion overall, so we are set to maintain a large investment total.
“The state’s economic growth is on track, and can create economic opportunities and results for the people,” he said after officiating the Selangor Asean Business Conference (SABC), held concurrently with the First Series of the Selangor International Business Summit (SIBS), at the Kuala Lumpur Convention Centre today.
Amirudin said Selangor pursues economic megatrends such as digitalisation and green energy, as detailed in the First Selangor Plan, which can boost the investment sector and draw external investors.
In March, the Malaysian Investment Development Authority announced that Selangor drew RM55.3 billion in investment in 2023, exceeding the RM45 billion target. Earlier this month, the Statistics Department said the state’s gross domestic product rose to 25.9 per cent in 2023 from 25.5 per cent in 2022.
Selangor’s economic growth boomed by 5.4 per cent, exceeding the average national growth rate of 3.6 per cent, last year.
[caption id="attachment_365459" align="aligncenter" width="1200"]
Menteri Besar Dato’ Seri Amirudin Shari speaks to the media after officiating the First Series of the Selangor International Business Summit, at the Kuala Lumpur Convention Centre, on July 25, 2024. — Picture by AHMAD ZAKKI JILAN/MEDIA SELANGOR[/caption]
Meanwhile, for the first time ever, SIBS is being held in two editions following high demand from local and foreign entities interested in participating in the summit.
Amirudin said the First Series of SIBS, held today until Saturday, will focus on the Selangor Investment Industrial Park Expo (Spark) and the SABC, which provide platforms for traders to expand their businesses.
“We offer this opportunity to exhibitors including international ones, with the theme ‘Gateway to Asean’.
On Spark, Amirudin said it provides other states with chances to exhibit their local products and share their respective strategic investment areas.
He added that the participation of other states, including Negeri Sembilan, Kedah, Pahang, Melaka and Johor, will support the national investment industry and further enhance the economy.
This edition of SIBS features 285 booths from local and foreign exhibitors, while the second series from October 16 to 19 will be held concurrently with the Selangor International Expo for food and beverage and medicine, and the Selangor Smart City and Digital Economy Conference.
As a whole, the international summit targets RM7 billion in potential investment, featuring over 1,300 booths and attracting 60,000 visitors from 80 countries.
SIBS, which was launched in 2016, has drawn participation from government agencies and nations such as China, Indonesia, Japan, Uganda, Vietnam, Kazakhstan, South Korea, Turkiye, Kenya and Australia.
Last year, SIBS logged an investment transaction value of RM6.12 billion, which was over four times its target of RM1.5 billion.
