SELANGOR is anticipating a reduced amount of RM10bil in direct investments this year.
This is a drastic drop from the record amount it achieved in 2018 but Selangor Mentri Besar Amirudin Shaari feels quality is just as important.
“Our figure may be a bit conservative (for this year) if you compare it to last year but we are not just looking at numbers now, we want quality investments too,” he said at the launch of the Selangor International Business Summit (SIBS) 2019 in Petaling Jaya.
The state recorded its highest ever direct investment of RM18.947bil last year — a 238% increase from the previous year’s record of RM11bil.
Amirudin said first quarter figures for this year showed that the state was on track with about RM1.5bil in investments, adding that it was among the top four within peninsular Malaysia in direct investment.
During his address, Amiruddin said Selangor was known to be a prime investment location and an excellent gateway with its ability to attract international and domestic investors.
With SIBS scheduled to be held from Oct 10 to 13 at Malaysia International Trade and Exhibition Centre (Mitec) in Kuala Lumpur, he hoped to see stronger participation from visitors and investors looking to make their mark in the state.
The summit, which will be a gathering of business experts and industry leaders, is offering four key features this year: the Selangor International Expo 2019, Selangor-Asean Business Conference 2019, Selangor Smart City and Digital Economy Convention, and the inaugural Selangor R&D and Innovation Expo.
The business conference themed “Towards Enriching the Asean Economic Community” will feature two keynote speakers: Prime Minister Tun Dr Mahathir Mohamad and Economic Affairs Minister Datuk Seri Mohamed Azmin Ali.
Organised by Invest Selangor, state investment, industry and trade, small and medium industries committee chairman Datuk Teng Chang Khim said the conference is expected to feature 850 booths and attract some 30,000 visitors.
A higher business transaction target has also been set from RM194.6mil last year to RM250mil this year.
Teng added that he received positive response from investors and summit participants from India, Thailand, Vietnam, Japan and Taiwan.
SIBS 2019 is endorsed by the Malaysia External Trade Development Corp (Matrade) as an international trade event.