Kuala Langat Industrial Hub aims to attract electrical and electronics investors
17 Aug 2020
The construction of the Kuala Langat Industrial Hub, which is expected to be completed in the next four years, is aimed at attracting investments from local and international electrical and electronics players to Selangor.
State Investment, Industry and Trade, Small and Medium Industries Committee chairman Datuk Teng Chang Khim said the good infrastructure around the project location, which covered an area of almost 200 hectares (493 acres), especially its close proximity to the Kuala Lumpur International Airport would be an added value in attracting more investors.
He said the ongoing trade war between the US and China is also expected to open up opportunities for the country, especially Selangor, as a preferred destination to boost the sector.
“(Following the trade war) many electronic companies from the US, Taiwan and other Asean countries will move their operations from China.
“Malaysia is among the destinations targeted by investors as our infrastructure is better than other countries. That is why we strongly encourage the private sector to collaborate and develop this industrial hub,” he told reporters here today.
Earlier, Teng witnessed the memorandum of understanding (MoU) signing ceremony between NCT Group of Companies, the owner and developer of the hub, and Future Inno Park Sdn Bhd.
The MoU, which was signed by NCT Group founder Datuk Seri Yap Ngan Choy and Future Ino Park director Jeffrey Ng Chin Heng, aimed to promote the project among foreign investors.
In another development, Teng is also proud that Selangor maintained its position as the largest contributor to the country’s gross domestic product (GDP) of 24.2 per cent last year from 23.7 per cent in 2018.
He said if the rate increases, Selangor would be contributing one-fourth of the country’s GDP in the near-term.
Therefore, he said Selangor needed to maintain the position by intensifying efforts to make the state as the country’s main investment destination either in the manufacturing or services sectors.
“Currently, 60 per cent of Selangor’s GDP comes from the services sector while the remaining 30 per cent from manufacturing. We need to strengthen the manufacturing sector to ensure that we have the support of the services sector,” he said.
He said the Selangor Industrial Master Plan focuses on five main sectors, namely electrical and electronics; machinery and equipment; transport equipment, including aerospace; food and beverage; and life sciences, including medicine and pharmaceuticals.
Source: Bernama
