SUBANG, Aug 22 (Bernama) — “In the first half of this year, Selangor recorded RM5.9 billion of total approved investment in the manufacturing sector, 90.3% higher compared with RM3.1 billion, approved in the same period last year. Of this, RM3.8 billion were from foreign investments, representing 64 per cent of Selangor’s total approved investments in the manufacturing sector for the period of January to June 2019,” said YB Dr Ong Kian Ming, Deputy Minister of International Trade and Industry (MITI) at the Selangor Investment Seminar 2019, today. The event was organised by the Malaysian Investment Development Authority (MIDA) in collaboration with MITI and Invest Selangor Berhad.
YB Dr Ong highlighted that a combination of an effective policy framework, a well-developed infrastructure and the provision of education and skills training were among the key instruments that provided a conducive framework to attract investments into the State. “Continued interest by investors had enabled Selangor to register a remarkable level of reinvestments by local and foreign companies. As at June 2019, 3,381 or 36.9% of Selangor’s manufacturing projects approved were in expansion or diversification activities,” he said.