SHAH ALAM, April 13 (Bernama) -- Invest Selangor acknowledges the year 2021 was a challenging year in attracting inward investment to Selangor. In addition to the unpredictability nature of the pandemic and delayed economic growth, the lack of the state’s promotional missions and engagement sessions overseas due to the closing of international borders, compounded to a comparatively lower FDI in 2021.
 
According to Malaysian Investment Development Authority (MIDA), Selangor received a total of RM7.5 billion of investment in the manufacturing sector in 2021, contributed mainly by DDI, with an investment value of RM6.1 billion. Investment projects in rubber, chemical, electrical and electronics and transport equipment sectors were among the top industries, contributing 71% and valued at RM5.36 billion to the total investment value. The focus industry cluster remained as the largest contributor to the approved investment value.
 
Despite a comparatively lower investment performance, Selangor continued to receive the highest number of manufacturing projects and created the highest employment opportunities in Malaysia, totalling 247 investment projects and 14,393 employment opportunities to its multitalented and multiskilled workers. Since 2017, Selangor has been in the forefront annually, and received a total of 1,329 investment projects with a total capital investment of RM67.5 billion. These projects brought in a total of 83,934 employment opportunities in the manufacturing sector in Selangor.

Domestic Direct Investment (DDI) remained as a strong source of investment for Selangor. Since 2017, Selangor has received RM31.1 billion (46% from total investment in manufacturing sector for 2017-2021), while maintaining DDI at average RM6 billion annually. Local manufacturers continued investing in their capabilities and capacities in Selangor to be part of a matured industry supply chain ecosystem.
 
Over 60% of Selangor’s total investment in 2021 was attributed by expansion activities, signalling strong confidence among investors on the matured supply chain and robust business ecosystem in the state. Some notable projects include the expansion projects from Hartalega, Top Gloves, Duopharma and Datasonic domestically, and Denso and Wistron internationally.
 
Moving forward, Selangor will continue to focus in attracting high value and impactful projects to both potential domestic and foreign investors and to create high quality employment opportunities for its over 6.5 million population.
 
For Selangor investment enquiries, please visit www.investselangor.my 

About Invest Selangor Berhad:

Invest Selangor Berhad is an investment promotion agency playing a pivotal role in the promotion and attracting both local and foreign direct investments to encourage the economic development of Selangor. Invest Selangor also coordinates and facilitates the approval of investors’ applications with government agencies and provides relevant business matching and marketing opportunities to improve the business ecosystem in the state.

Source: Invest Selangor Berhad

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Nurul ‘Ain Mohd Yussof 
Tel: 012 3437059
Email: nurul@investselangor.my

Name: Maryani Binti Mat Saad
Tel: 016 6997901
Email: maryani@investselangor.my 

--BERNAMA