KUALA LUMPUR: The Selangor government will focus on the development of the service sector for this five-year period, said Selangor Menteri Besar Datuk Seri Amirudin Shari.
He said the development of a third port on Carey Island, Kuala Langat which is included in the plan is expected to drive higher economic growth in the state.
“The transition to services based on online or digitalised service sector is one of the key strategies forward to drive the economy in Selangor and Malaysia in general,” he told reporters after a dialogue session entitled “Special Dialogue on Malaysia’s Leading Investment Destinations: Leveraging Local Strengths for Regional Prosperity” at the Selangor ASEAN Business Conference (SABC) 2024 here today.
Amirudin who was one of the panelists in the dialogue session also outlined some of Selangor’s unique features that are able to attract investors to the state.
He said Selangor’s position in the middle of Peninsular Malaysia, mega infrastructure such as the airport, seaport and highway network also developed more industrial areas that contributed to the economic growth of the state.
“Selangor also produces more than 40,000 graduates from 150 higher education institutions every year who can meet the needs of the industry.
“The Selangor government’s durable and agile policies and administration is also one of the unique features of this state,“ he said.
Amirudin said the First Selangor Plan (RS-1) which is the state’s development framework is expected to increase the rate of contribution to the state’s gross domestic product (GDP) up to 0.5 per cent in the future.
He said the matter was proven when Selangor managed to contribute 25.9 per cent to Malaysia’s GDP with an increase of 0.4 per cent in 2023, compared to the previous year.
“Before RS-1 was presented, the contribution to GDP increase was only between 0.2 and 0.3 per cent, but when it was launched, the contribution percentage (to GDP) increased to almost 0.5 per cent.
“This is because RS-1 is more in-depth in its planning, supported by manpower and infrastructure, so we are confident of being able to contribute RM500 billion within these few years,“ he said.
The dialogue session which was also attended by Penang Chief Minister Chow Kon Yeow discussed the strength of the two states to attract investment into the country.
Meanwhile, Selangor State Investment, Trade and Mobility Committee chairman Ng Sze Han said SABC has served as a vital platform for ASEAN and global leaders to discuss important economic issues, explore trade opportunities, and form strategic partnerships.
In his opening speech, he said SABC 2024 aimed to build on its past successes, where it attracted over 2,400 participants from all 10 Asean countries and beyond.
“SABC provided people-to-people engagement, like state stakeholders and the private sector through the ASEAN Business Advisory Council (ASEAN-BAC) and regional business councils, such as the ASEAN-India Business Council (AIBC) and EU-ASEAN Business Council (EU-ABC),“ he said.
