Selangor Celebrates Investors, Key Stakeholders At SIAA 2023-2024

‎SHAH ALAM, Nov 20 (Bernama) -- Selangor today honoured domestic and foreign investors, along with its key stakeholders, for their contribution to the state's robust economic performance through the Selangor Investors Appreciation Awards (SIAA) 2023-2024.

‎Invest Selangor Bhd chief executive officer Datuk Hasan Azhari Idris said the state has weathered numerous global economic challenges, ‎including post-pandemic effects of COVID-19, ongoing geopolitical tensions, trade uncertainties, and persistent global inflationary pressures.

‎He said that despite these adversities, Selangor has shown remarkable resilience and adaptability, continuing to attract quality investments, sustain industrial growth, and strengthen its position as a key driver of Malaysia’s economic prosperity.

‎"With your support and unwavering confidence, Selangor has continued to chart remarkable progress in investment growth over the past few years. In 2023, the state recorded total approved investments of RM55.3 billion despite the global economic challenges and uncertainties. ‎

‎"This strong momentum has continued in 2024, when Selangor achieved an extraordinary milestone by becoming the top investment destination in the country and the first state to surpass the RM100 billion approved investment mark, recording a total of RM101.1 billion, almost double the previous year’s performance," he said in his speech here, today. 

‎Also present were Selangor Menteri Besar Datuk Seri Amirudin Shari, Selangor Investment, Trade and Mobility Exco Ng Sze Han, and Selangor Islamic Religious Affairs and Cultural Innovation Exco Mohammad Fahmi Ngah. 

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‎Hasan Azhari said Selangor’s significant investment performance further solidifies its appeal to both domestic and foreign investors, creating job opportunities, fuelling economic growth, and bolstering key industries.

‎He said that beyond continuously ‎supporting and facilitating industry needs amid today’s evolving economic challenges, Invest Selangor ‎is also intensifying its investment promotion efforts by adopting a more targeted and strategic approach to attract high-‎quality investments.

‎He added that these efforts include programmes such as the Selangor ‎International Business Summit (SIBS), Selangor Aviation Summit (SAS), Selangor Soft Landing Programme, Selangor Lab Partnership Programme, and the Selangor Career Outreach Programme (SCOUT). 

‎"As we look ahead, the state will continue to work diligently to ensure that our economy remains robust, dynamic, and prosperous. With the development of the Second Selangor Plan or RS-2 already underway, we are committed to advancing the state’s ‎sustainable growth agenda and strengthening its long-term economic resilience. ‎

‎"I truly believe that all of you have made the right decision in choosing Selangor as your regional profit centre. With its attractive business offerings and attractive investment ecosystem, Selangor stands as an ideal destination for businesses and investors. Together, we can continue to build a stronger and more resilient future," he said.

‎Meanwhile, the SIAA featured several award ‎categories, namely the Highest Investment Award for Foreign and Local Companies; The Most Preferred Investment Location in Selangor Award; Special Achievement Award for Managed Industrial Parks (MIP) in Selangor; Special Achievement Award for the Selangor Soft Landing Programme; and the Special Recognition Award for Government and Technical Agencies in Selangor.

‎Among the recipients today were major industry players representing the manufacturing, services, and high-technology sectors such as Petronas Research Sdn Bhd, Gamuda Land Leisure Sdn Bhd, Texas Instrument Malaysia Sdn Bhd, Maruss Sdn Bhd, and Chery Corporate Malaysia Sdn Bhd, as well as local authorities. 

‎The event also witnessed the exchange of a Memorandum of Understanding (MoU) between Invest Selangor and UOB Malaysia, aimed at strengthening Selangor's investment ecosystem.

‎The partnership will facilitate UOB Malaysia’s clients intending to establish or expand operations in the state, with UOB Malaysia providing comprehensive financial solutions, including investment financing, advisory support, and corporate account services.

‎Both parties will collaborate on domestic and international investment promotion initiatives, supported by joint promotional publications and digital marketing efforts. UOB Malaysia will also assist in expanding the local supply chain by connecting small and medium enterprises to opportunities from foreign investment projects, thereby enhancing their participation in high-value industries.

‎-- BERNAMA