The Sun Daily: Selangor lowers FDI target due to impact of COVID-19

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SHAH ALAM: Selangor has set a lower foreign direct investment (FDI) target of between RM12 billion and RM13 billion this year compared to the past three years of between RM17 billion and RM18 billion due to the global impact of Covid-19.

Selangor Menteri Besar Datuk Seri Amirudin Shari (pix) said until April this year, the state recorded an FDI value of about RM9 billion despite the more challenging economic situation now than that of the previous year.

“Our target of RM12 billion to RM13 billion is not too ambitious due to the increasing Covid-19 cases again this year.

“Our operations are only moving at the rate of 20 to 30 per cent and there are not many things we can do to expand the target,“ he told Bernama.

However, Amirudin said following the implementation of Operation Surge Capacity to ensure that the adult population in Kuala Lumpur and Selangor receive at least one dose of Covid-19 vaccine by Aug 1, he expects the state’s economic landscape to gradually recover.

“We don’t want to be too ambitious but I think by the end of August or the beginning of September the economic landscape will improve in Selangor,“ he said.

In the meantime, he said through the implementation of the Selangor Advance initiative under the Kita Selangor 2.0 Package, the programme has so far benefitted more than 300 companies involving 50,000 employees.

“Through Selangor Advance, the 50,000 employees can continue with their jobs as the funds will be able to help businesses to have sufficient resources to ensure the viability and survival of their businesses,“ he said. -Bernama

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