Boosting the state’s economy
SELANGOR is excited about its economic prowess, which is growing from strength to strength. The state’s executive councillor for investment, industry and trade, small and medium industries and transport, Datuk Teng Chang Khim, said various factors are important catalysts in shaping Selangor’s strong economy.
“The state has the most number of skilled workers and coupled with world-class infrastructure, Selangor is the ideal place for businesses to grow,” said Teng.
According to Teng, Selangor is focussing on the service industry as well as high-end businesses such as biotechnology, e-commerce and aerospace. To propel the state towards the direction of these industries, Selangor has set up the Selangor Bio Council, the Selangor Information Technology and E-Commerce Council (SITEC) as well as the Selangor Aerospace Council.
Going by the current global trends, Selangor is aware that e-commerce is the way forward for the state’s small and medium industries (SMEs).
“We have set up the Selangor Digital Creative Center under SITEC to coach our SMEs to evolve into e-commerce businesses that market their products online,” explained Teng.
The state has also initiated platforms to attract foreign e-commerce trade to the state.
The aim, said Teng, is to make Selangor into the e-commerce conduit of Asia.
Selangor is also focussed on turning the state into a biotechnology hub and has established the Bio Council to achieve this.
The Selangor Bio Bay, currently being developed under the council, is aimed at formulating a complete ecosystem for biotech research.
“We are emphasising biotechnology and life sciences, including the medical equipment industry because of the rapid growth in the sector, especially, in the area of medical tourism,” said Teng.
Meanwhile, Selangor Bio Council member Dr Mahaletchumy Arujanan said the construction of the Selangor Bio Bay is timely as Malaysia currently lacks career opportunities in research.
“I hope Selangor will fill this gap,” said Dr Mahaletchumy, adding that the state’s is heading in the right direction with emphasis on biotechnology.
She added the infrastructure would focus on attracting biotech players to the state.
“Recreational and residential areas are also being developed at the site in Pulau Indah while emphasising on the conservation of the environment,” she said.
Infrastructure for biotech investors such as research facilities and commercial plants are expected to be built in accordance with the needs of the tenants, she added.
The state’s investment arm, Invest Selangor, has also embarked on various international trade missions to strengthen links with potential investors from the United Kingdom, the United States, Germany and Taiwan, among others.
The state’s ultimate goal, said Teng, is to build the Selangor World Trade Center in line with the state’s international branding as a profitable investment hub.
“We are reaching out to the world with our aerospace and biotech industries which revolve around ingenuity and design,” said Teng.
The Selangor state government, he added, is expecting to see the fruits of the exciting developments soon. – By Wani Muthiah