By Yasmin Ramlan
SHAH ALAM, Feb 18 — Sultan of Selangor Sultan Sharafuddin Idris Shah Alhaj has praised the state’s economic strength and its ability to surpass last year’s financial targets.
Addressing the Selangor State Legislative Assembly, His Royal Highness noted the increase in consolidated fund reserves to RM4.13 billion, a boost of RM517 million from RM3.61 billion in 2023, reinforcing the state’s appeal to investors.
“This strong performance has boosted confidence among local and international investors, allowing the government to surpass its 2024 investment target.
“The state government initially targeted investments of RM50 billion but successfully attracted RM66.75 billion, creating 50,222 quality job opportunities in the manufacturing, services, and primary industries sectors,” he said during the opening of the First Meeting of the Third Term of the 15th Selangor State Legislative Assembly today.
Meanwhile, the Selangor ruler said the state government’s commitment to embracing artificial intelligence (AI) is a positive step and commended its initiatives to expand the semiconductor industry.
His Royal Highness said collaborations with the private sector, such as the Trailblazers programme, are set to significantly enhance civil servants’ capabilities and allow them to better understand AI.
“Although this industry (AI) is still new, I see great potential for public services to adopt this technology, particularly in education, financial services, and healthcare, so that the people can benefit from it,” he said.
“I also welcome the state government’s efforts to take a step forward in the rapidly growing semiconductor industry, inspired by the success of Malaysia Semiconductor IC Design Park One in Puchong.
“With Phase Two set for development, more people, especially the younger generation, will have access to job opportunities in this industry,” the ruler said.
Commenting on the state administration’s efforts to ensure ease of doing business, Sultan Sharafuddin lauded the improvements made in the review and approval processes, which the ruler said have significantly reduced the time required for investors and business operators to engage with the state government and local authorities.
“Reducing the time required for investors and entrepreneurs to engage with the government and local authorities from 3.5 months to just 14 days, or even seven days, through streamlined review and approval processes has helped keep the state competitive, particularly in ease of doing business,” he said.
His Royal Highness also praised the implementation of the Kita Selangor 1.0 programme and welcomed the upcoming launch of Kita Selangor 2.0, which focuses on unity, resilience, and readiness for positive change.
He also expressed his support for the initiative, which is implemented across all nine districts, to ensure its benefits reach the grassroots and advance Selangor’s goal of becoming a progressive and competitive state.
