Selangor eyes investments of RM7 bln into manufacturing

KUALA LUMPUR: The Selangor state government is eyeing investments of RM7 billion into the manufacturing industry this year and higher than the RM5.8 billion recorded in 2017.

Men teri Bes ar Ami ru din Sh ari said a bulk of the contribution would likely come from the food and beverages sector, electronics and electrical, life sciences, machinery and equipment, as well as transport equipment.

“We have all the infrastructure and activities. We can’t depend on the manufacturing industry alone. Our challenge now is on how to increase the potential we have,” he told reporters on the sidelines of the 2nd Selangor International Business Summit 2018.

He said as of January-June this year, the state government secured investments of RM800 million for the manufacturing industry.

Amirudin cited the Summit as one of the many initiatives undertaken by the state government to boost Selangor’s performance in terms of business and investments going forward.

“Selangor contributed RM270 billion or 23 per cent to Malaysia’s gross domestic product last year. We will work hard to retain our contribution this year,” he said.

Amirudin also said the state government had set a revenue target of RM2.25 billion for this year, of which RM1.6 billion was secured during the first seven months.

In 2017, Selangor generated revenue of RM2.8 billion, surpassing the initial target of RM2.5 million.

Meanwhile, the 11- day summit, which began yesterday, was officiated by the Raja Muda Selangor Tengku Amir Shah.

Also present was Deputy International Trade and Industry Minister, Dr Ong Kian Ming. — Bernama