SABAK BERNAM, Nov 8 — Selangor’s revenue has surpassed RM2.4 billion, beyond the earlier projected RM2.35 billion, said Menteri Besar Datuk Seri Amirudin Shari.
“So far, the state revenue has exceeded RM2.4 billion; over 100 per cent of the target.
“The land sector is the main contributor to state revenue through premiums and taxes. There are many improvements that are being and going to be pursued to grow this revenue in coming years,” he said.
He explained that land premiums rise when there are changes or increases in land use, such as when converting agricultural or commercial land to industrial use.
“The manufacturing sector, when buying new land and such, contributes to the premiums that increase state revenue. This adds value to the land that is purchased, rented, or used for development,” he said when met after launching the Ban Canal Carnival in Simpang Lima here today.
Amirudin added that the state has received large investments such as from Chinese company Chery’s RM2 billion venture.
“During my recent trip to China, I witnessed a deal to expand investment in the automotive sector. When they buy, modify or convert use of land, it directly increases premiums for us. This positively impacts state revenue,” he said.
He added that last year, Selangor received RM100 billion in manufacturing and services investments.
“Though there’s been a decline this year from last year, Selangor remains among the largest investment contributors in the country,” Amirudin said.
