PETALING JAYA: Selangor has reaffirmed its position as the leading state in investment performance, recording approved investments of RM66.8 billion between January and September.
According to a Malaysian Investment Development Authority (Mida) report, this achievement positions Selangor at the top, followed by Kuala Lumpur with RM63.9 billion, Kedah RM34 billion, Penang RM22.6 billion and Johor RM18.1 billion.
The approved investments in Selangor include RM15 billion for manufacturing-related, RM51.7 billion for services and RM38.7 million for primary sector projects. This reflects a significant 58.7% increase compared to RM42.1 billion recorded in the same period last year.
Selangor State Executive Councillor for Investment, Trade and Mobility Ng Sze Han said the positive investment performance showcases the vibrancy of Selangor’s industrial ecosystem, technological capabilities and competitive strengths in the manufacturing and services sectors.
Domestic investments accounted for the majority of the approved investments at 68.3% or RM45.6 billion, while foreign investments contributed 31.7% or RM21.2 billion.
Both domestic and foreign investments demonstrated remarkable growth, with domestic investments surging 74%, from RM26.2 billion, and foreign investments increasing by 68%, compared to RM12.5 billion in the same corresponding period last year.
During this period, Selangor attracted significant foreign investments, with the United States leading the contributions with RM4.8 billion, followed by Singapore RM1.8 billion, China RM1.76 billion, Japan RM564.6 million and Germany RM421.3 million.
A total of 1,371 projects were approved in Selangor, including 253 manufacturing projects and 1,116 services projects.
These projects are expected to create about 50,222 potential job opportunities, a substantial increase from the 997 approved projects and 23,060 potential job opportunities recorded in the same period last year.
The services sector continues to be the key driver of Selangor’s investment performance, with major contributions from sub-sectors such as information and communication, real estate, support services, transport services, and distributive trade.
Leading subsectors such as electrical and electronics, transport equipment, fabricated metal products, non-metallic mineral products, and machinery equipment contributed to the manufacturing sector’s strong investment performance. This underscores the sector’s resilience and continued growth.
“Selangor has certainly validated its case as a premier and attractive destination for investors. The future looks bright for Selangor, and we hope the upward momentum to continue and yield positive full-year results for 2024,“ Ng said.
