Selangor Menteri Besar Azmin Ali said the state has moved beyond the Malaysian Anti-Corruption Commission's (MACC) pledge and implemented measures to prevent corruption within his administration.

Speaking to reporters during a press conference after launching Selangor International Business Summit 2017 today, Azmin said the state is ready to offer foreign investors with a conducive investment environment based on principles of accountability, transparency and good governance.

"The Selangor state government was among the first to welcome MACC's efforts to combat corruption.

"When we were informed of the MACC's anti-corruption pledge, the state government informed them that improvements needed to be made to the pledge and what the state has done today are way more effective to combat corrupt practices," he said.

Among others, Azmin said all state executive councillors at their weekly meetings are required to sign a document declaring that they have no personal interests in any matters to be discussed or approved.

He said this when asked for comments on criticisms that Selangor has yet to sign the MACC's pledge and whether it had any intentions to do so.

The Penang state-government had previously made similar declarations touting the effectiveness of its own "Transparency, Accountability and Efficiency" principle but finally signed the pledge last month after the MACC agreed to include its 10 additional recommendations on how to combat graft.

Touting Selangor's success at luring foreign investors and maintaining its status as the highest contributor to Malaysia's annual GDP, Azmin earlier said his ultimate vision was to develop the state as a global trading hub.

Among others, he said Swedish furniture giant IKEA has signed an agreement to develop its Asia Pacific region distribution in Pulau Indah, near Klang, with an estimated investment of RM1 billion.

In conjunction with the summit, other scheduled events include the Selangor Smart City & Future Commerce Convention 2017, which highlighted investment opportunities in the fields of e-commerce and biotechnology research.

Also present during the launch were Selangor state senior executive councillor for investment, industry & commerce, SME and transportation, Teng Chang Kim; Invest Selangor chief executive officer Hasan Azhari Idris; as well as representatives from various foreign embassies and companies.