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Selangor Week Launched at the Malaysia Pavilion in Expo 2020

Selangor referred to as the golden state of Malaysia has long been the preferred destination for investors from all over the world. In the recently launched Selangor Week at the Expo 2020, Invest Selangor, the state’s investment arm plans to use the Expo’s global platform to showcase its aspiration to become a trading hub for the region and beyond.

State of Selangor’s contribution of over 22 per cent to the nation’s GDP has been consistent over the years, showcasing its credibility as the economic powerhouse within the country. Foreign direct investment or FDIs remains as one of the major boosts in the state economic growth over the years. It is home to many MNCs such as IKEA, Airbus, Nestle, Siemens and Schneider Electric. In 2020, FDI made up 62.5 per cent of Selangor’s total approved investment of RM 18.4 billion (approximately USD4.39 billion), the highest in Malaysia compared to other states.

“The healthy inflow of investment projects into the state affirms Selangor’s status as a preferred destination among investors, despite the various challenges posed by the COVID-19 pandemic. This is because of the already matured ecosystems within the state for industries to set up their operations in” commented by Dato’ Teng Chang Khim, state executive councillor for industry and trade, Selangor, during the official opening of Selangor Week at Expo 2020 Dubai.

Selangor's Resurgence As An ASEAN Business Hub

It's no secret that since the COVID-19 outbreak began, Foreign Direct Investment (FDI) into ASEAN countries has plummeted. According to the United Nations Conference on Trade and Development (UNCTAD), FDI inflows into ASEAN in 2020 fell 25 per cent to USD137 billion compared to the previous year.

Malaysia was among the most affected where FDI fell by 55 per cent to USD3.5 billion. However, things are beginning to look up again, despite the ongoing pandemic.

Key Factors to Selangor’s Continued Success

On top of its world rankings, as well as economic and investment achievements, the growing interest of MNCs in setting up regional operations in Selangor is largely due to the continuous efforts of Invest Selangor - as a one-stop agency that provides information, advisory services, start-up and expansion support to potential and existing investors - to promote the state as a promising investment destination.

Towards establishing itself as a Global Trading Hub, Selangor offers a matured business ecosystem ­with complete infrastructures for industries to set up their operations in the state. Additionally, Selangor's strategic location with two major international airports and the world's 12th largest container port (Port Klang), as well as several advanced domestic rails, road and air links to economic centres within the country, makes the state one of the most attractive business hubs to connect investors to ASEAN and global markets.

Another advantage that Selangor offers is the availability of about 3.6 million multilingual and skilled talents in the state.

Sela­­­ngor is also laying the digital foundation to empower the population, via its Smart Selangor Action Plan 2025, which aims to make Selangor the most liveable state within the region.

Selangor Week at the Expo 2020

Invest Selangor Berhad is leading the Selangor Week at the Malaysia Pavilion in Expo 2020 Dubai that started on March 6 and will be running until March 12. The Selangor Week is promoting the five clusters of industries for investment, namely, electrical and electronics, life sciences (biotechnology), transport and equipment (aerospace), machinery and equipment, and food and beverage (halal industry).

“The Expo 2020 gives a common take-off ground for all countries participating especially after post-Covid-19 and Selangor’s strength and sustainability efforts will be at the forefront to push for investments in key priority sectors,” said Chang Khim.

To learn more about investing in Selangor please visit www.investselangor.my