KUALA LUMPUR, Aug 7 (Bernama) -- “Selangor is indeed one of the most preferred investment locations for manufacturing activities. Continued interest by investors had enabled Selangor to register a remarkable level of reinvestments by local and foreign companies, whereby reinvestments in the manufacturing sector constituted 40.3% of total investments in the sector for the state. The strong presence of MNCs and Large Local Corporations (LLCs) in the State such as Spirit AeroSystems, Nestle, IKEA, Panasonic, Q-Cells, KL-Kepong Oleomas, Nippon Electric Glass, Perodua Global Manufacturing, Proton, Top Glove and Hartalega hold much promise for business collaborations and opportunities,” said Mr Arham Abdul Rahman, Deputy Chief Executive Officer (DCEO) of Malaysian Investment Development Authority (MIDA) during the ninth briefing of MIDA Invest Series: Unfolding States’ Business Potential held today at the MIDA Headquarters.

The beginning of Selangor as an industrialised state dates back to the late 1970s where significant changes were made to its economic policy with preference given to industrial, housing and recreational development. During the period, both the federal and state government had worked together to formulate policies to push the State towards capital-intensive and high-tech industries.

For Selangor, as of March 2019, a total of 9,097 manufacturing projects with investments of RM218.4 billion were approved by MIDA, creating more than 802,000 employment opportunities. Majority of the employment was in the electrical and electronics (E&E) (196,158) followed by transport equipment (91,752), rubber products (82,055) and machinery and equipment (52,620) industries.

Mr Arham highlighted that the Federal Government, through MITI and MIDA, is continuously intensifying efforts to attract more high level and quality investments through the provision of fiscal and non-fiscal incentives which are available for both foreign and domestic Investors. He, therefore, urged companies to take advantage of all facilities provided by the government to adopt innovative new technologies and processes to keep up with the trajectory of the broader industry.

The Invest Series event, which was well attended by over 200 participants from various fields, including manufacturers and service providers. Also present were YBhg. Dato’ Hasan Azhari, CEO of Invest Selangor Berhad and Mr Tan Beng Teong, CEO of Selangor Human Resource Development Centre (SHRDC).  The event featured a panel discussion with a broad range of speakers representing government agencies such as (Invest Selangor Berhad, Selangor Human Resource Development Centre, Selangor Maritime Gateway), developer (Smart Selangor (M) Sdn. Bhd.) and Government-Linked Corporation (Smart Selangor Delivery Unit).

About MIDA
 
MIDA is the government's principal promotion agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Starting operations in 1967 with a relatively small set up of 37 staff, MIDA has grown to become a strong and dynamic organisation of over 700 employees. Headquartered in Kuala Lumpur Sentral, MIDA today has 12 regional and 20 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram and Facebook, @OfficialMIDA.

Photos from the event can be downloaded at the following link - Google Drive link :http://bit.ly/2GPVNeI

SOURCE : Malaysian Investment Development Authority (MIDA)

FOR MORE INFORMATION, PLEASE CONTACT:
Name : Mr Sikh Shamsul Sikh Abdul Majid
Director
Domestic Investment & Supply Chain Division, MIDA
Tel : 03 2267 3766
Email : shamsul@mida.gov.my

--BERNAMA