KUALA LUMPUR, Aug 7 (Bernama) — “Selangor is indeed one of the most preferred investment locations for manufacturing activities. Continued interest by investors had enabled Selangor to register a remarkable level of reinvestments by local and foreign companies, whereby reinvestments in the manufacturing sector constituted 40.3% of total investments in the sector for the state. The strong presence of MNCs and Large Local Corporations (LLCs) in the State such as Spirit AeroSystems, Nestle, IKEA, Panasonic, Q-Cells, KL-Kepong Oleomas, Nippon Electric Glass, Perodua Global Manufacturing, Proton, Top Glove and Hartalega hold much promise for business collaborations and opportunities,” said Mr Arham Abdul Rahman, Deputy Chief Executive Officer (DCEO) of Malaysian Investment Development Authority (MIDA) during the ninth briefing of MIDA Invest Series: Unfolding States’ Business Potential held today at the MIDA Headquarters.
The beginning of Selangor as an industrialised state dates back to the late 1970s where significant changes were made to its economic policy with preference given to industrial, housing and recreational development. During the period, both the federal and state government had worked together to formulate policies to push the State towards capital-intensive and high-tech industries.