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Selangor approves 1,506 manufacturing projects, generating investments worth more than RM88b

A total of 1,506 manufacturing projects with an investment value of RM88.88 billion have been approved in Selangor from 2018 to June 2023.

State Investment, Trade and Mobility Exco, Ng Sze Han said the amount comprised local investments totaling RM35.88 billion while RM53.0 billion were foreign investments.

“The approved manufacturing projects created 95,610 jobs,” he told the Selangor State Legislative Assembly (DUN) here today.

He said this in response to a question from Pua Pei Ling (PH-Bukit Lanjan) on the amount of foreign investments recorded in Selangor between 2018 – 2023.

Ng said the state government has been taking steps to boost foreign investments, including drafting policies such as the First Selangor Plan (RS – 1), new regional development plans such as the Integrated Development Region in South Selangor (IDRISS) as well as large-scale annual programs such as Selangor International Business Summit and the Selangor Aviation Show.

“Additionally, the state government is also actively carrying out investment promotion programs with chambers of commerce in Malaysia and abroad.

“This includes investment missions, focusing on industries such as life sciences, food and beverage (F&B) manufacturing, electrical and electronic product manufacturing, the aerospace industry and drones as well as machinery and equipment,” he said.

As for the services sector, Ng said the state government has identified sectors that have the potential to grow in Selangor, including the logistics service industry and digital investment such as global business services, data centers and creative content technology.

“For the life science development sector, the ‘Selangor Lab Partnership’ program was introduced to bridge the gap between educational institutions and industry to enable a more focused collaborative research and the products can be commercialized,” he said.

― Bernama