Selangor JournaL Selangor aims to contribute RM500 bln to GDP in three years

PETALING JAYA, July 16 — Selangor aims to contribute RM500 billion to the national gross domestic product (GDP) within three years.

Expressing his confidence in the achievements of Invest Selangor Bhd over its 25-year journey, Menteri Besar Dato’ Seri Amirudin Shari said the state cannot be complacent about its accomplishments.

“I believe the Invest Selangor team led by (chief executive officer) Datuk Hasan Azhari has done a remarkable job to make you feel at home in Selangor.

“But as much as past success can provide us some breathing room to celebrate, it is in no way a guarantee for future success.

“That is the main reason we have to look beyond Selangor’s borders, not be wholly content with a RM400 billion economy, but find ways to build a RM500 billion economy in the coming two to three years,” he said in his speech at Invest Selangor’s silver jubilee celebration at Sheraton Hotel here last night.

Previously, the Statistics Department said Selangor achieved a record RM406.1 billion contribution to the 2023 national GDP, with the state surpassing the 3.6 per cent national economic growth rate with its 5.4 per cent.

However, he said, to realise success, the state must boost its manufacturing capacity to fulfil local needs and be a strategic base for expansion into Southeast Asia and the broader Asian region.

Speaking to reporters, Amirudin added that since 2018, except during the Covid-19 pandemic, Selangor has maintained its manufacturing investment at no less than RM12 billion annually, compared with other states that are more likely to experience fluctuations.

“But with our strategies, we ensure a consistent flow of investment into the state, maintaining an intact ecosystem.

“This is monitored by Invest Selangor, which coordinates efforts to attract investments to Selangor,” he said after the ceremony.

During his speech, he mentioned the progress of the First Selangor Plan (RS-1), of which, as of June, 33.7 per cent of the main projects and initiatives are complete.

Projects in the remaining portion are at various stages of implementation, including the Integrated Development Region in South Selangor, Sabak Bernam Development Area, and the new Shah Alam Sports Complex.

“The RS-1 doesn’t only include the main areas Selangor aims to develop, but represents a close working relationship with the private sector through an inclusive approach, so when (a private firm’s) plans are included as part of the state’s economic plan, it will improve processes when (it) engages with state or local government agencies at various stages.”

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