Selangor to focus on five core clusters, quality investments

SHAH ALAM: The Selangor state government will focus on five core clusters which have the highest potential in driving economic growth, in addition to quality investments with added-value for the people and the state.

Menteri Besar Amirudin Shari said the five core clusters were electrical and electronics, transport equipment, life sciences, food and beverages manufacturing as well as machinery and equipment.

He added that the state government wants quality investments capable of creating value for human capital and those which would enable the exchange of technologies.

“The most important thing is to see whether they are quality investments, with added-value for the people and the state,” he told reporters after receiving a visit from International Trade and Industries Minister (MITI) Datuk Darell Leiking at the Selangor State Secretariat office here yesterday.

During the meeting, Amirudin and Darell had discussed MITI's efforts in implementing the national policy on Industry 4.0 (Industry4WRD) to strengthen the manufacturing and related services sector in relation to the nation's economic growth.

The minister said Selangor is one of the nation's most important investment destinations, as the port and the main airport are located within the state.

Also present was MITI's deputy secretary-general (Industry) Datin K Talagavathi, who said the ministry was formulating a new Industrial Plan which would determine the strategic direction of industrial development.

She said the plan, which would also focus on boosting investments, was expected to be launched by the end of 2020 or early 2021.

Meanwhile, Amirudin said the state's total trade had increased to RM606.6 billion last year from RM582 billion recorded in 2017.

Total exports stood at close to RM257 billion in 2018, a decrease from the RM258.2 billion recorded in 2017, while imports had increased to RM350 billion from RM323.9 billion previously.

He said Selangor's total approved investment from 2015 to September 2018 stood at RM29.6 billion, of which RM15 billion were foreign investments involving 369 projects which were expected to create 26,492 jobs.