Selangor rakes in foreign investment

As controversy surrounding the Lynas rare earth refinery plant continues to brew in Pahang, the Selangor exco member for investment and trade, Teresa Kok (DAP-Kinrara), today gave assurance to the public that environmentally harmful industries will not be allowed in Selangor.

She said the state government is concerned about the environmental impact of industries within the state, and the state environment department would reject investment applications similar to the rare earth processing which jeopardises public safety.

“Two years ago, a firm expressed interest to invest US$2 billion to build a steel factory in Sepang,” she revealed.

“But we were forced to turn it down as Sepang has been planned for the gold coast project,” she said.

She was replying to a question by Dr Shafie Abu Bakar (PAS-Kajang).

Kok listed high-technology, green and biotechnology industries as the top sectors on the state government’s wish-list.

“This is because we are facing a labour shortage in the state,” she said, of the state government’s preference for the above over conventional manufacturing industries.

Selangor recorded a total investment amount of RM5.9 billion between January and August this year; with 183 projects approved and 12,259 job opportunities created.

Kok said that this figure was achieved from frequent visits by the relevant departments to industrial sites; proper maintenance and infrastructure; expeditious One-Stop Centres; and, the setting up of an Industrial Park Management Committee at every local council.

Foreign investments to Selangor by top ten countries are as listed below:

Country Investments (RM) Approved projects Jobs created
1)      Japan 1.1 billion 18 1151
2)      Korea 652 million 3 387
3)      Singapore 511 million 9 897
4)      Taiwan 385.5 million 6 2041
5)      Sweden 216.8 million 1 173
6)      Australia 115.4 million 5 504
7)      Switzerland 92 million 1 22
8)      China 66.14 million 6 690
9)      United Kingdom 27.577 million 3 37
10)    India 24.567 million 1 35