Selangor to focus on developing service sector in five years - MB

The Selangor government will focus on the development of the service sector for these five years, said Selangor Menteri Besar Amirudin Shari.

He said the development of a third port on Carey Island, Kuala Langat which is included in the plan is expected to drive higher economic growth in the state.

"The transition to services based on online or digitalised service sector is one of the key strategies forward to drive the economy in Selangor and Malaysia in general,” he said.

He told reporters this after a dialogue session entitled "Special Dialogue on Malaysia's Leading Investment Destinations: Leveraging Local Strengths for Regional Prosperity" at the Selangor Asean Business Conference (SABC) 2024 today.

Amirudin, who was one of the panellists in the dialogue session also outlined some of Selangor's unique features that can attract investors to the state.

He said Selangor's position in the middle of Peninsular Malaysia, along with mega infrastructure such as the airport, seaport and highway network also developed more industrial areas that contributed to the state’s economic growth.

"Selangor also produces more than 40,000 graduates from 150 higher education institutions every year who can meet the needs of the industry.

"The Selangor government's durable and agile policies and administration is also one of the unique features of this state," he said.

GDP contribution

Amirudin said the First Selangor Plan (RS-1) which is the state's development framework is expected to increase the rate of contribution to the state's gross domestic product (GDP) up to 0.5 percent in the future.

He said the matter was proven when Selangor contributed 25.9 percent to Malaysia’s GDP with an increase of 0.4 percent in 2023, compared to the previous year.

"Before RS-1 was presented, the contribution to GDP increase was only between 0.2 and 0.3 percent, but when it was launched, the contribution percentage (to GDP) increased to almost 0.5 percent.

"This is because RS-1 is more in-depth in its planning, supported by manpower and infrastructure, so we are confident of being able to contribute RM500 billion within these few years," he said.

The dialogue session, which was also attended by Penang Chief Minister Chow Kon Yeow, discussed the strength of the two states to attract investment into the country.

Selangor State Investment, Trade and Mobility Committee chairperson Ng Sze Han said SABC has served as a vital platform for Asean and global leaders to discuss important economic issues, explore trade opportunities, and form strategic partnerships.

In his opening speech, he said SABC 2024 aimed to build on its past successes, where it attracted over 2,400 participants from all 10 Asean countries and beyond.

"SABC provided people-to-people engagement, like state stakeholders and the private sector through the Asean Business Advisory Council and regional business councils, such as the Asean-India Business Council and EU-Asean Business Council," he said.

- Bernama

S'gor GDP grows by 7.43pct 2021-2023, exceeding target

S'gor aims to eradicate hardcore poverty by July - MB

MB's aide: 9 residents fail to prove they've been living in Kg Sri Makmur since 2006

Asia Mobiliti: S’gor govt open to disclose appointment details - MB