Selangor Journal : Selangor records highest direct investment in Malaysia

Article originally published on on 27 July 2020.

SHAH ALAM, July 27 — Selangor recorded its highest ever direct investment (DDI) in 2019 at RM315 million, which is the highest in the country, says the Selangor Menteri Besar.

Dato’ Seri Amirudin Shari said the statistics from the Malaysian Investment Development Authority (Mida) showed that the state fiscal policy is strong with a recorded foreign direct investment (FDI) of RM6,625.4 million.

“The economic outlook in 2020 is very challenging as the world’s major financial organisations, such as the World Bank and the International Monetary Fund (IMF), had projected a very weak global economic development following the Covid-19 situation,” said Amirudin on a Facebook post today.

However, Amirudin said the state government will continue to boost the state economy through the Selangor’s stimulus package, including its economic recovery plan.

“The recovery plan includes three thrusts — food security, economic sustainability, and capacity building — with a total economic value of RM55.85 billion,” he added.

Selangor remains the leading gross domestic product (GDP) contributor by state with a recorded 23.7 per cent in 2019.

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