SHAH ALAM – Selangor has set a lower foreign direct investment (FDI) target of between RM12 billion and RM13 billion for 2021 – compared with RM17 billion to RM18 billion in the last three years – due to Covid-19’s global impact.
Menteri Besar Datuk Seri Amirudin Shari said up till April, the state recorded an FDI value of about RM9 billion despite the challenging economic situation.
“Our target of RM12 billion to RM13 billion is not too ambitious, and is due to the increasing Covid-19 cases this year,” he told Bernama.
“Our operations are moving at a rate of only 20% to 30%, and there are not many things we can do to expand the target.”
However, following the implementation of Operation Surge Capacity to ensure that the adult population of Kuala Lumpur and Selangor receives at least one vaccine dose by August 1, he expects the state’s economic landscape to log a gradual recovery.
“We don’t want to be too ambitious, but I think by the end of August or beginning of September, Selangor’s economic landscape will improve.”
He said more than 300 companies involving 50,000 employees have benefited from the implementation of the Selangor Advance initiative under the Kita Selangor 2.0 package.
“Through Selangor Advance, 50,000 employees can continue their jobs as the funds will help ensure businesses have sufficient resources to remain viable and survive.” – Bernama, July 20, 2021
