KUALA LUMPUR: The Selangor state government, which has trimmed its direct investment target for its manufacturing sector by 25% year-on-year to RM6 billion this year amid the global economic slowdown, has achieved 63.3% of that target or RM3.8 billion in the first eight months of the year.
This is according to figures published by the Malaysian Investment Development Authority for the January to August 2016 period, Selangor senior executive councillor Datuk Teng Chang Khim told reporters after the launch of the Selangor International Expo 2016 yesterday.
“Despite the current economic situation, we are on track to attaining our target of RM6 billion for investments in Selangor’s manufacturing sector for 2016,” said Selangor Menteri Besar Datuk Seri Mohamed Azmin Ali in his keynote address earlier when he officiated the launch.
Selangor targeted RM8 billion in direct investments last year, and achieved RM7.9 billion.
Meanwhile, at the expo’s opening ceremony yesterday, Halal International Selangor (HIS), a subsidiary of Central Spectrum (M) Sdn Bhd, inked a memorandum of understanding (MoU) with several universities and certification bodies under HIS’ 1.5-year Halal Technical Competent Person programme to establish and expand training collaboration to strengthen experts’ competency in the halal industries.
HIS signed the MoU with the European Halal Development Agency Limited from the UK, the Korea Institute of Halal Industry, The Industrial Development & Investment Promotion Committee of Tainan City and eight others.
Separately, Central Spectrum introduced a RM4.3 billion bio-valley, dubbed Selangor Bio Bay, that will host bioscience pursuits, including research institutes, laboratories and biotech-related manufacturing activities.
“With the full support of the Selangor state government, the project will be developed in phases over a 15-year development period,” according to the company’s press statement.
It is currently awaiting approval on its land zoning and the finalisation of its masterplan composition. The company expects a population of 40,000 upon its completion, with a residential component comprising a selection of modern terrace homes.
“Central Spectrum embarked on the project to elevate Selangor’s biotechnology industry as well as to promote it as a catalyst for high quality property development in Pulau Indah,” said the company, which is also the developer of the Pulau Indah Industrial Park (PIIP) located next to Westports Malaysia in Port Klang.
At RM60 psf, the remaining 40% of PIIP’S industrial land in Phase 3C is still available for purchase, it said. Already 60% of it has been sold for RM160 million.
Besides halal-related manufacturing and services, the three-day expo, organised by Invest Selangor, also focuses on e-commerce and the life sciences.