SHAH ALAM: Selangor aims to draw investments worth RM12 bil in 2020, up from the RM10 bil for last year, said state investment, industry and commerce and small and medium enterprises committee chairman Datuk Teng Chang Khim.
He described the target as practical as it was based on forecasts for the global investment climate.
“Even though we had targeted an investment of RM10 bil last year, we succeeded in attracting RM16.4 bil in investments as of September 2019.
“Because of this, we are confident the target of RM12 bil for this year is practical and achievable,” he told reporters after witnessing the signing of a memorandum of understanding between Invest Selangor Bhd and Malaysia Green Technology Corporation (GreenTech Malaysia) here today.
The agreement was to confirm Selangor’s participation in Expo 2020 Dubai which is scheduled to be held from October 2020 until April 2021.
Meanwhile, Teng said the committee expected the main contributors to the investments this year to be the electronics and manufacturing sectors, as well as metal-based products.
On the state’s investment drive in the Middle East, Teng said the committee was focusing on expanding the services sector, besides the halal industry.
“We are focusing more on the services segment as it contributes 60% to the state’s gross domestic product.
“As for the halal industry, we are looking at opportunities to expand the services and knowledge in this sector to the region. We are planning a programme for the industry to be accepted by the Muslim countries,” he said. – Jan 22, 2020, Bernama
