Selangor banks on industrial and public transport masterplans to drive economic growth

Selangor banks on industrial and public transport masterplans to drive economic growth

SINGAPORE, May 10 — Selangor, which is currently finalising its Industrial and Public Transport Masterplans, is banking on both to serve as catalysts to further drive the state’s economic development.

The masterplans, expected to be ready in two months, will not only facilitate, but also set the direction of the targeted sectors which have been the focus of Selangor in driving its economic growth engine.

Senior Executive Councillor Datuk Teng Chang Kim said the masterplans would for a start, serve a five-year development plan, and could be reviewed as and when necessary.

“As you know, we have set our eyes on five clusters, namely life sciences, food and beverage, electrical and electronics, transport equipment and machinery and equipment.

“These masterplans basically set out further strategies in supporting the growth and further development of these sectors,” he told Bernama, on the sidelines of the roundtable meeting on “Selangor The Economic Powerhouse”, held here Monday.

Teng, who is also the state’s Chairman of Standing Committee for Investment, Industry & Commerce, Small & Medium Enterprise and Transportation Chairman, was leading a two-day state investment mission to the republic starting Monday.

Talking about potential sectors, he said the state had set its eyes on biotechnology under the life science cluster, as well as aerospace under the transport equipment cluster.

Commenting on whether the slower global economic growth is affecting investment interest in the state, he said Selangor is still quietly optimistic over the first quarter.

“Though the first quarter numbers are not in yet, we have been very aggressive compared to before, in going to potential cities around the world in making our call towards investing in Selangor,” he added.

So far, Selangor’s trade missions have been conducted in Australia, the United States, the United Arab Emirates as well as South Korea, covering 11 cities as a whole, and a total of 24 for this year.

Since the establishment of Invest Selangor Bhd, the state investment promotion agency in 1999, Selangor has to date attracted more than RM130.7 billion worth of investments.

Also present was Invest Selangor Chief Executive Officer, Hasan Azhari.

— BERNAMA

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