SHAH ALAM, Nov 5 — South Korea is keen to participate in the RM20 billion Klang River rehabilitation project that will provide the impetus to stimulate economic growth in Selangor, the country’s most developed state.
Menteri Besar Tan Sri Abdul Khalid Ibrahim said he was informed that South Korean President Lee Myung-bak will be visiting Malaysia next year and he (Khalid) is looking forward to meet him.
“South Korea is Selangor’s sixth largest FDI (Foreign Direct Investment) source, followed by Taiwan and Thailand,” he said when opening the 14th East Asian Entrepreneurs’ Summit 2009.
The Selangor Government ,in the recently unveiled economic stimulus package for the state, identified six major areas that are paramount to spur economic growth. The areas are cleaning and rehabilitating the Klang River, expanding the transportation system, upgrading and replacing water assets, urban renewal programme, reviving abandoned housing projects, and increasing paddy yield.
Khalid said the areas are expected to woo more than RM50 billion investments and create some 150,000 jobs.
The Menteri Besar said the state government will strive to attract investments in high value-added and technology-intensive projects.
He said the manufacturing sector remained the prime mover for Selangor’s economic growth.
“For the period between 2000 and July 2009, 2,812 manufacturing projects worth RM68 billion in total investment were approved. Of the total, RM35.43 billion were foreign investments,” he said.
The United States, Japan, Germany, Singapore and Britain are major FDI sources for Selangor, added Khalid, a former corporate figure. — Bernama
Show/Hide comments
Show/Hide comment form
