Selangor Reaches Investment Target Of RM10 Billion For 2012


SHAH ALAM, 13 FEB: Selangor managed to achieve the targeted value of investment that exceeded the average amount set last year at RM10 billion for January to October 2012.

Investment, Industry and Commerce Exco, Teresa Kok said that for that period, Selangor recorded the highest compared to other states, with a record of more than RM10.5 billion, involving 211 approved manufacturing projects.

She said that the amount represents 30 percent of the total investment value in Malaysia.

Teresa said that the total approved investment in Selangor of RM6.5 billion (62%) were from domestic investments while RM3.9 billion (38%) were from foreign investments.

“From the 211 projects, 131 projects were new projects with a total value of RM7.477 billion and 80 projects were expansion and other such projects with a total investment of RM3.043 billion.

“In terms of potential employment opportunities, Selangor also recorded the highest number of potential jobs of 18,975 job opportunities. In terms of percentage, (Selangor) recorded 31 percent of the total employment opportunities in Malaysia,” she said in a press conference here at the State Secretariat Building.

She added that good manufacturing of vehicle equipment recorded the highest investment value, amounting to RM4.4 billion with 34 projects. It was followed the Electrical and Electronic Manufacturing Industry which amounted to RM1.5 billion with 19 projects.

“The Petaling District recorded the highest investment followed by Hulu Selangor and Klang,” she said.

She added that the volume shows that Selangor remains the preferred destination for local and foreign investment and domestic investors also put their hopes, confidence and trust in the leadership of the State Government.

“We expect that Selangor will continue to retain at the number one spot until the end of 2013,” she said.

For the record, according to statistics issued by the Malaysian Investment Development Authority (MIDA), since 2008 till October 2012, Selangor emerged as the state with the highest amount of investment with a total of rm48.53 billion.

Selangor’s performance is at its best and the highest since Pakatan Rakyat took over the administration of Selangor compared to the previous administration.

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