MB: Selangor lowers FDI target due to impact of Covid-19 | Malaysian courier

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Selangor Mentri Besar Datuk Seri Amirudin Shari said that until April of this year, the state recorded an FDI value of around 9 billion ringgit despite the current economic situation more difficult than in the previous year. – Photo by Yusof Mat Isa

SHAH ALAM, July 20 – Selangor has set a lower foreign direct investment (FDI) target of 12 billion ringgit to 13 billion ringgit this year compared to the past three years, between 17 billion ringgit and 18 billion ringgit due to the global impact of Covid-19.

Selangor Mentri Besar Datuk Seri Amirudin Shari said that until April of this year, the state recorded an FDI value of around 9 billion ringgit despite the current economic situation more difficult than in the previous year.

“Our target of RM12-13 billion is not too ambitious due to the increase in Covid-19 cases again this year.

“Our operations are only moving at a rate of 20 to 30 percent and there is not much we can do to widen the target,” he told Bernama.

However, Amirudin said that after the implementation of Operation Surge Capacity to ensure that the adult population of Kuala Lumpur and Selangor receive at least one dose of the Covid-19 vaccine by August 1, it is expects the state’s economic landscape to gradually recover.

“We don’t want to be too ambitious but I think that by the end of August or the beginning of September the economic landscape will improve in Selangor,” he said.

In the meantime, he said, through the implementation of the Selangor Advance initiative under the Kita Selangor 2.0 package, the program has so far benefited more than 300 companies involving 50,000 employees.

“Thanks to Selangor Advance, the 50,000 employees can continue working as the funds can help companies have sufficient resources to ensure the viability and survival of their businesses,” he said. – Bernama


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