SHAH ALAM – Selangor will make use of next year’s expected slower global economic growth to strengthen its economic base as a developing industrial state through the First Selangor Plan (RS-1) 2021-2025.
Investment, Trade, Industry and Small and Medium Industries Committee chairman Datuk Teng Chang Khim said Selangor anticipated its economic development will slow down next year and will use the period to plan for the state’s future.
“That is why we introduced RS-1, which promotes specialised development zones namely the South Selangor Integrated Development Region and Sabak Bernam Development Area,” he said.
RS-1, which was introduced by Menteri Besar Datuk Seri Amirudin Shari in July, is a comprehensive development plan designed based on short, medium and long-term strategies to make Selangor a smart, prosperous and habitable state by 2025.
Teng said that the state government will rely on each region’s strength to attract investors through various incentives.
He added that Selangor’s growth next year will be brisk with various development projects including the Selangor Maritime Gateway along the Klang River and the Shah Alam Stadium redevelopment.
“The effect may not be immediate but at least we will be able to use this period to rebuild or further strengthen Selangor’s foundation as an industrial and developing state,” Teng said.
Regarding investment activities, he said the state government continues to focus on key industries such as life sciences, food and beverage manufacturing, electrical and electronics product, manufacturing as well as machinery and equipment.
“In addition, two new industries that have been identified and have the potential to boost Selangor as an investment destination are logistics services and digital investment,” he said.
Teng noted that Selangor has overcome other states in logistics services, whereby four foreign companies have started building their logistics centre here within the last three months.
Regarding the development of the third port construction project on Carey Island, he said the project was still in the planning process but his side had already conducted a feasibility study.
“We have started with the planning, conducted the feasibility study report and obtained further details on the project.
“The process is ongoing and we have not yet determined which investor is suitable,” Teng said, adding that within three to five years the construction of the port would begin.
In 2018, then transport minister Anthony Loke Siew Fook said the development of the third port on Carey Island was a long-term project to ensure that the country’s economic growth was not affected as the two Port Klang terminals, the North Port and West Port, would reach maximum capacity by 2025. – Bernama, December 7, 2022
