Selangor aspires to be the best investment destination in the region – Informial
Information (The Jakarta Post)
Mon June 28, 2021
Malaysia, and in particular Selangor, has always aspired to be the best investment destination in the region. Well positioned to serve as a hub for global trade, Malaysia’s air transport infrastructure is among the best in the world. Their coastal ports provide direct maritime access in Asia to Singapore, China, Europe and the United States.
According to a study commissioned by Standard Chartered Bank, respondents see Asia as a growing region with more than 85% of operations and delivery in Asia or planning to use it for commercial activities, Malaysia is ranking ninth on the list.
This is reflected in the annual report of the Malaysian Investment Development Authority (MIDA), which recorded that foreign direct investment (FDI) in Malaysia amounted to 64.2 billion ringgit (or $ 15.5 billion). in 2020, in the context of the current global pandemic. Selangor, in particular, recorded the top investment destination in Malaysia for the third year in a row with a total of R18.4 billion (or $ 4.5 billion) in 2020.
With a diverse manufacturing base, a high concentration of industrial activities, a central location to markets and a skilled workforce, and reasonable access to global transport and infrastructure, Selangor is a fully developed and industrialized state – a force to be reckoned with in Asia.
Year after year, Selangor has never failed to contribute the largest share of the pie to Malaysia’s GDP compared to other states. A similar comparison on the huge contribution of the state economy to the country would be that of California to the United States.
Dedicated to service excellence
Invest Selangor still believes that it is crucial to strengthen the monitoring aspects of services to foreign investors to restore confidence and maintain their presence.
Even during the first movement control decree last year, Invest Selangor has also been heavily involved in intermediaries between companies and the Ministry of International Trade and Industry to help accelerate their request to restart their businesses. operations under the âessential listâ of manufacturers.
Invest Selangor Managing Director Dato ‘Hasan Azhari said: âIt is essential for us to ensure that the facilitation process does not stop once investors decide to invest in the state.
New vision of development
Selangor’s long-term goal is to restore the industry affected by the pandemic. Selangor last year launched S-DAICO, an aerospace division, with a 10-year action plan to promote Selangor as a key aerospace base in the region.
Selangor is currently focusing on five core clusters with the highest potential to drive economic growth and quality investments that deliver value-added returns for the population and the state.
The five main hubs are electricity and electronics, transportation equipment, life sciences, food and beverage manufacturing, machinery and equipment.
Last year, Selangor formed S-DAICO, an aerospace division solely to focus on sectors to speed up the industry’s recovery process from the pandemic.
At the same time, the rich biodiversity of Selangor provides a solid basis for the growth of the biotechnology industry, the second area of ââinterest – offering many business opportunities, especially in R&D projects for breakthroughs in the agricultural productivity, health discoveries and the adoption of sustainable industrial technologies. process.
Efficient workforce management
In addition, Selangor also has around 3.6 million employees, who are largely skilled and multilingual.
“This is also another advantage for foreign companies, especially for those who plan to use Selangor as a gateway to ASEAN markets,” he noted.
Combined with long-term commitment and state government support, these initiatives ultimately made Selangor a more âcustomer-centricâ and more attractive investment destination.