Selangor leads in investment growth, RM231.7 bln recorded from 2019 to 2023

Selangor leads in investment growth, RM231.7 bln recorded from 2019 to 2023

29 Mar 2024

Selangor has attracted the highest investment value in Malaysia, totalling RM231.7 billion between 2019 and 2023, according to recent data by the Ministry of Investment, Trade and Industry (Miti).

In a written parliamentary reply, its minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said Selangor’s investment haul contributed 18 per cent of the total RM1,285.5 billion approved nationally during the period.

This was followed by Penang (RM221.5 billion or 17.2 per cent) and Johor (RM162.4 billion or 12.6 per cent).

Combined, the three states accounted for nearly half (47.9 per cent) of all approved investments in Malaysia from 2019 to 2023.

“Of the overall 24,231 projects (from total investment), it is expected to create 611,705 new job opportunities, with foreign investment contributing RM709.5 billion (55.2 per cent), while domestic investment amounted to RM576 billion (44.8 per cent),” said Tengku Zafrul in a written reply dated March 27, responding to a question from Paya Besar MP Datuk Mohd Shahar Abdullah, who asked the ministry to provide investment values and returns by state and district from 2013 to 2023.

In terms of other states, Kuala Lumpur received RM159.8 billion, followed by Kedah (RM129.9 billion) and Sarawak (RM104.8 billion).

Sabah, Perak, and Negeri Sembilan accumulated RM62.4 billion, RM39.6 billion, and RM39.4 billion in investments, respectively.

Meanwhile, Pahang, Melaka, and Terengganu recorded RM36.9 billion, RM25.9 billion, and RM12.6 billion, respectively.

Smaller contributions in states such as Kelantan, WP Putrajaya, WP Labuan, Perlis, and others recorded a total of RM45.7 billion in investments.

Source: Selangor Journal