Selangor senior executive councilor for investment Teresa Kok said the Pakatan Rakyat-run state received the highest amount of investments totaling RM2.47 billion during the first 5 months of this year, beating previous leader Sarawak.
The data sourced from the Malaysian Industrial Development Authority debunks the rumors of a badly-run state facing an exodus of investors and plunging investments. In fact, despite the continuous bad press from the BN-controlled media, Selangor along with Penang are two of the best governed states in the country.
“This shows that local investments…are still investing in Selangor under the Pakatan Rakyat administration,” Teresa, who is also the MP for Seputeh, said in a press statement.
According to her, 62 percent of the inflow or RM1.52 billion came from local investors while the balance 38 percent or RM942 million were from foreign investors.
120 industrial projects accounting for 36 percent of all projects in the country were launched in Selangor in the first five months alone, creating some 7,600 new jobs.
Japan was the state's biggest foreign investor with RM366 million, followed by Singapore with RM121 million and Germany with RM116 million.
“The high number of industrial projects in Selangor shows the state’s economy is still steady and that it is an attractive investment destination for foreign and local investors,” said Teresa, who is also the Kinrara assemblywoman.
There are 13 states in Malaysia. According to MIDA, Selangor attracted RM6.76 billion last year compared to Sarawak's RM8.5 billion in industrial investments.