Transforming Selangor into a global business hub
THE Selangor government is busy courting foreign investments to beef up its economic positioning in the global arena.
According to the state’s executive councillor for Investment, Industry and Trade, Small and Medium Industries and Transport Datuk Teng Chang Khim, intensive work was ongoing to transform Selangor into a global business hub.
“We have visited 28 cities this year to inform them what Selangor has to offer and how we can collaborate in various areas,” said Teng.
Among the cities visited by Selangor’s investment arm, Invest Selangor Berhad in 2017, are Munich, London, Stockholm, Hyderabad, Chennai, New Delhi, Guangzhou and Bangkok, said Teng.
He added the visit to Hyderabad in Telangana, India, was to establish collaboration in the area of biotechnology.
“We’re developing the Selangor Bio Bay to strengthen the state’s position as an active player in the global biotechnology arena,” said Teng.
Selangor is now Hyderabad’s international state partner in the biotechnology industry, he added.
Selangor’s Bio Bay is made up of research centres, laboratories and manufacturing plants for biotech products in a 1,000-acre (404.7ha) valley in Pulau Indah near Port Klang.
The ultimate agenda of the state’s Bio Bay project is to formulate a complete ecosystem for biotech research.
“We’re emphasising various aspects of biotechnology and life sciences such as the medical equipment industry due to the rapid growth of the sector as well as growing popularity of medical tourism,” said Teng.
Apart from this, ready-toassemble appliances and furniture manufacturing giant Ikea has ventured into Selangor with plans to invest a whopping RM908mil to set-up a supply chain centre, also in Pulau Indah.
The deal with the Swiss company was inked when Selangor Mentri Besar Datuk Seri Azmin Ali and Teng visited Ikea’s corporate office in Basel, Switzerland earlier this year.
The Ikea plant in Pulau Indah will be the company’s third largest furniture distribution centre, after Ikea Dusseldorf in Germany and Ikea Chicago in the United States, and will be supplying the 12 Ikea stores located throughout Asean.
“This investment will create many jobs for Selangor residents in addition to bringing revenue to the state,” said Teng.
Another big foreign investment in Selangor, added Teng, was made by Japan’s Toyota Motor Corporation, which will invest RM2bil to set-up a high technology plant in Klang.
This too, he added, would also create jobs in addition to bringing money into Selangor.
The Toyota plant has the ability to produce an annual yield of 50,000 vehicles for the Malaysian market.
The year also saw Selangor, through Invest Selangor, organise the Selangor International Business Summit 2017 to promote the state as a commercial gateway to Asean.
The summit comprised three segments – Selangor Smart City & Future Commerce Convention 2017 from Sept 7 to 9, the SelangorAsean Business Conference from Sept 11 to 12 and finally, the Selangor International Expo 2017 from Sept 14 to 17.
The event was a roaring success, which saw a participation of global players from various economic sectors.
Teng said, according to the Malaysian Investment Development Authority (Mida), Selangor received investments totalling RM1.7 bil up to June this year.
With Selangor going full force to launch itself as an industrial state, Selangorians can expect, not only more money coming into the state, but also more job opportunities in the near future. PKNS chief executive officer Noraida Mohd Yusof (front, left) walks Sultan of Selangor Sultan Sharafuddin Idris Shah (third from left) through the features of the PKNS headquarters through the scale model while (from second left) Raja Muda Selangor Tengku Amir Shah, Tengku Permaisuri Selangor Tengku Permaisuri Norashikin, Datin Seri Shamsidar Taharin and Selangor Mentri Besar Datuk Seri Mohamed Azmin Ali look on, in August this year. Tengku Amir (centre) receiving a token of appreciation from Invest Selangor Berhad chief executive officer Datuk Hasan Azhari Idris (left) and Teng at the closing ceremony of the inaugural Selangor-Asean International Business Golf tournament at Glenmarie Golf and Country Club, Shah Alam, in September this year.