Thriv­ing eco­nomic growth

The Star Malaysia - Star2 - - SULTAN OF SELANGOR'S BIRTHDAY - By A. RUBAN ruban_22@thes­

The Se­lan­gor gov­ern­ment is go­ing all out to rope in po­ten­tial in­vestors from all over the globe to boost its eco­nomic and fi­nan­cial standings as well as giv­ing Malaysia a bet­ter name.

Cur­rently ranked third be­hind Jo­hor and Sarawak in terms of to­tal in­vest­ments con­trib­uted to the coun­try, the state boasts a huge num­ber of Ja­panese in­vestors to­day.

With the Ja­panese in­vest­ing in 424 man­u­fac­tur­ing projects at a whop­ping RM11.9bil be­tween 2000 and Au­gust this year, more than 30,000 job op­por­tu­ni­ties have been cre­ated in the state.

Ac­cord­ing to state in­vest­ment com­mit­tee chair­man ean Yong hian Wah, al­though the state gov­ern­ment did not pro­vide any sort of fi­nan­cial as­sis­tance to in­vestors, it over­saw po­ten­tial projects and en­sured it was car­ried out with­out any hic­cups.

“The Se­lan­gor gov­ern­ment of­fers help to in­vestors through the rel­e­vant agen­cies. From iden­ti­fy­ing a lo­ca­tion to solv­ing is­sues even af­ter the com­pany had been erected, the Se­lan­gor gov­ern­ment does it all,” he said.

he said the main fac­tors of in­vestors’ con­tin­ued pref­er­ence for Se­lan­gor are po­lit­i­cal sta­bil­ity, good in­fra­struc­ture, and in­vestor-friendly poli­cies.

ean Yong said there are namely seven coun­tries – Ja­pan, Amer­ica, Sin­ga­pore, Ger­many, South Korea, China and United King­dom, that are cur­rently in­vest­ing in Se­lan­gor.

Of the in­dus­tries that are mak­ing big money in the state, he said elec­tronic and elec­tri­cal prod­ucts have con­trib­uted the most.

“Be­tween 2000 and Au­gust this year, the elec­tronic and elec­tri­cal in­dus­try con­trib­uted more than RM20­bil,” he said, adding that the trans­port and equip­ment in­dus­try came in sec­ond with a to­tal of RM16­bil worth of in­vest­ments.

Al­though one might think that the state was do­ing per­fectly fine in bring­ing in in­vestors lo­cally or in­ter­na­tion­ally, the state gov­ern­ment feels oth­er­wise.

ean Yong said that more mea­sures need to be taken to place Se­lan­gor at the top spot. Given this, he said more strate­gies are be­ing looked at to in­crease and ex­pand the state’s wealth.

Among oth­ers, the Se­lan­gor gov­ern­ment have pledged to pro­vide a con­ducive en­vi­ron­ment for in­vestors to op­er­ate busi­nesses here.

“The Se­lan­gor gov­ern­ment is al­ways in touch with pri­vate sec­tors and other busi­ness part­ners to at­tract more peo­ple to start up busi­nesses here.

“The state also seeks the help of for­eign em­bassies to en­cour­age busi­ness growth here,” he said, adding that this was a good step to spread the news across the globe.

In ad­di­tion, ean Yong said, the Se­lan­gor gov­ern­ment was also in the midst of pre­par­ing ed­u­ca­tion and med­i­cal ben­e­fits for ex­pa­tri­ates who showed in­ter­est in start­ing up busi­nesses in the state.

“This way, those who have money but are un­sure of how things work here can be taught at our cen­tres,” he added.

Al­though Malaysia lagged be­hind hong Kong, Sin­ga­pore, South Korea and Tai­wan, ean Yong said the state gov­ern­ment was de­ter­mined to push the coun­try’s eco­nomic sta­tus to be on par with th­ese coun­tries.

“Some­day this will hap­pen and we’re con­fi­dent it can be done,” he said.

Al­though Se­lan­gor might not be the top state in terms of con­tribut­ing to the coun­try’s in­vest­ments and growth, it has 93 up­com­ing projects – the most num­ber of projects among all states, worth RM1.9bil and 47 projects deemed for ex­pan­sion worth RM1.5bil.

how­ever, ean Yong said this was lower com­pared to last year. Based on the lat­est in­vest­ment trend in the state, he said, Se­lan­gor was ex­pected to record be­tween RM5­bil and RM6­bil by year-end.

“Be­tween Jan­uary and Au­gust this year, Se­lan­gor recorded RM3.49bil of to­tal in­vest­ments and has con­trib­uted al­most 11.7% of the over­all in­vest­ments in the coun­try,” he said.

A worker op­er­at­ing a com­pact­ing ma­chine at the Theen Seng Pa­per Man­u­fac­tur­ing plant in Rasa, Hulu Se­lan­gor.

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