Selangor still investors’ favourite
Published: Fri, 08 Mar 2013
SHAH ALAM: Selangor remains the leading investment spot in Malaysia, attracting nearly RM50 billion from 2008 to 2012, a senior executive councillor declared on Wednesday.
“We’re still ahead of other states in terms of the number of projects approved and value of investments,” said Teresa Kok.
Total investments over the past five years amounted to RM49.75 billion, compared to RM40.75 billion in Sarawak and RM36.14 billion in Penang.
Out of the RM49.75 billion, RM26.83 billion, or 54%, were foreign investments while RM22.92 billion (46%) came from domestic companies.
In the process, 1,420 manufacturing projects were approved and 123,067 jobs created since 2008.
According to the latest statistics from the Malaysian Investment Development Authority (MIDA), Kok said 252 projects worth RM11.7 billion were approved in Selangor last year.
“Domestic investments contributed 62% (to the RM11.7 billion), this shows local investors’ confidence in the state government’s leadership,” said Kok.
Vehicle equipment manufacturers are the leading contributors with RM4.95 billion in 2012, followed by the electrical and electronic goods manufacturers and food manufacturers whose industries contributed RM1.63 billion and RM1.24 billion respectively.
Over 38% of the projects are concentrated in the Petaling district, particularly in Shah Alam (58) and Puchong (17).
Other favourite spots for industries include Klang town (20 projects), Port Klang (19) and Rawang (17).