Selangor records highest investments in 9 years

Selangor attracted RM11.87 billion in investments last year, bettering figures from the past eight years despite the financial crisis that began late last year.

“This ranks us as number two among states in Malaysia,” senior state executive council member Teresa Kok told reporters today. (Sarawak is the leading state in terms of foreign investments, pulling in about RM15.17 billion.)

According to Malaysian Industrial Development Authority (MIDA) records, RM6.353 billion were from 202 new projects in Selangor while another RM5.517 billion came from expansions.

Records show that RM5.3 billion were foreign direct investments, with Germany contributing RM3.2 billion to the figure.

The investments also created 29,340 new jobs in the state.

Kok added that the state would continue to try and hit the RM12 billion target for 2009 despite softening conditions.

“We know it is not easy with the downturn but we will try to speed up processes to rope in investors as well as focus on other sectors other than industrial manufacturing, such as the services sector,” she said.

She added that steps were already being taken to protect the interests of investors, which she hoped would attract even more investments to the state.

“We have instructed local councils to set up industrial park management committees comprising local councillors, officers from bodies providing utilities such as electricity, telecommunications and water, as well as other agencies such as the police,” Kok said.

The committees have been instructed to hold meetings every one to two months to resolve various problems to “take care of the interests of industrial investors.

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