SHAH ALAM, January 1 – Selangor has solidified its position as Malaysia’s top investment destination, recording RM66.8 billion in approved investments from January to September 2024, according to the Malaysian Investment Development Authority (MIDA).
This represents a 58.7% increase from the RM42.1 billion recorded during the same period last year, with the services sector contributing RM51.7 billion and manufacturing projects adding RM15 billion.
Domestic investments made up 68.3% of the total, while foreign investments, led by the USA, Singapore, and China, accounted for 31.7%. YB Tuan Ng Sze Han, Selangor State Executive Councillor for Investment, Trade & Mobility, hailed the state’s industrial ecosystem and technological capabilities, stating, “Selangor’s performance underscores its attractiveness as a premier investment hub.”
With 1,371 projects approved and 50,222 potential job opportunities created, Selangor continues to thrive as a leader in Malaysia’s manufacturing and services sectors, poised for further growth as 2024 concludes.
