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Malaysia - The Star Online - Selangor Attracts RM11.8bil Investment Print E-mail

Wednesday February 18, 2009

Selangor Attracts RM11.8bil Investment

PETALING JAYA: Selangor attracted a total of RM11.8bil investment last year.

The amount, the highest achieved within a year, is RM700mil more than that of the previous year.

Selangor State Investment Centre (SSIC) CEO Datuk Mohd Jabar Kembali said investments from both local and foreign entrepreneurs were almost equal.

He said local investments totalled about RM5.8bil.“Foreign investments were less (than local) by about RM100mil,” he told a press conference yesterday.

The investments were in 302 projects, of which RM6.36mil was spent on 200 projects. The rest of the money was spent on expansion of 102 industries, he said, adding that most of them were located in the Petaling district and Shah Alam.

“We have been successful in getting a section of them to open industries at Klang Valley 2,” he said.
Jaabar said he was confident that Selangor would do well.

He said the SSIC’s investment target for this year was RM12bil and he believed that a lot of hardwork was required to achieve the feat.

“We will work very hard to achieve the target given to us and I expect this year to be challenging.”
Despite the downturn, Jabar said, many of the new factories were involved in expansion projects.

“Contrary to the usual practice of retrenching workers, these factories are recruiting employees,” he said, adding that more than 29,000 jobs were created last year.

(Source: The Star Online, 2009)

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