THE Selangor government has targeted to achieve investments worth up to RM45 billion this year, with RM12 billion expected from the manufacturing sector and about RM32 billion from the service sector. 

Selangor State Exco for Investment, Trade, and Mobility Ng Sze Han said 657 manufacturing and service sector projects valued at RM29.72 billion were approved in the first half of 2022 in Selangor. 

“The investment value was more than half of the projected value, involving 114 manufacturing projects valued at RM14.75 billion. 

“A total of 543 projects were approved in the service sector valued at RM14.96 billion,” he said when winding up the Supply Enactment Bill 2024 at the state assembly today. 

Based on the encouraging investment momentum and performance, Ng said the Selangor government is confident it would be able to achieve its forecast investment amount by end-2023. 

He also said the seventh edition of the Selangor International Business Summit (SIBS) 2023, from October 19-22, saw a potential transaction value of RM6.12 billion, comprising RM4.9 billion from memoranda of understanding (MOUs) signed and RM1.22 billion being potential transactions from the exhibition halls. 

This, he said, was a new record versus the RM1.46 billion from the SIBS 2022 event. 

The total number of visitors during SIBS 2023 rose 29% to 57,249 versus 44,342 from last year. 

The state legislative assembly reconvenes on Monday. – Bernama, November 17, 2023.