Selangor Drew RM18.947 Bln Investments In 2018: Chief Minister

SHAH ALAM (Selangor, Malaysia) March 20 (Bernama) -- Selangor approved investments worth RM18.947 billion last year, the highest amount in 30 years. Chief Minister Amirudin Shari said the figure was a 238 per cent increase over the RM5.592 billion investment inflow in 2017. Amirudin said of the total, RM10.837 billion comprised foreign direct investment with RM8.11 billion contributed by local investors. "Recently released statistics from the Malaysian Investment Development Authority (MIDA) show that 241 manufacturing projects were approved in Selangor for 2018, compared to 202 manufacturing projects approved in 2017. "The total number of approved projects was higher than for any other state,” he said at a press conference on Selangor’s 2018 investment performance here Wednesday. He added that the state created a record 18,475 job opportunities last year, up 84 per cent over the 10,031 in 2017. Amirudin said the state’s encouraging performance showed international and domestic business communities’ confidence in the state government’s transparency and administrative efficiency. "It was also contributed by the state government’s previous and future efforts by its investment promotion agency Invest Selangor Bhd as well as the full cooperation and support of other government departments and agencies such as local authorities, district offices and other technical agencies,” he said. He added that China was the biggest investor in the state last year with investments worth RM3.934 billion, including in basic metal production, paper products and other sectors. -- BERNAMA