Selangor: The Golden State of Malaysia and its Ambitious Gateway to ASEAN and Beyond

Selangor: The Entry Point to Asean and Further

Invest Selangor, Malaysia's bold initiative, significantly propels investments within the province.

Prospects are promising in Southeast Asia, particularly in the Malaysian state of Selangor, a crucial component of the country's economy. It's in a strong position to experience balanced development and wealth. In 2023, Selangor was responsible for 25.9% of Malaysia's GDP, with an impressive yearly growth rate of 5.4% – a statistic significantly higher than the country's average of 3.6%.

Unsurprisingly, Selangor is a catalyst for incoming investments, leveraging its current assets to lure multinational companies, manufacturers, high-tech corporations and local startups. All are eager to capitalize on its prime location, superior accessibility, and potential perks as an entry point to the rapidly growing markets of Southeast Asia.

Ever since it was founded in 1999, Invest Selangor has been instrumental in securing Selangor's reputation as "The Golden State of Malaysia". This governmental entity is tasked with providing counsel and support to emerging businesses. The services offered by the organization encompass everything from helping with license applications and real estate agreements to potential collaborations, hiring employees, understanding local rules and tax systems. As a mediator, it removes hurdles, ensuring a seamless planning and establishment procedure.

"Our primary role at Invest Selangor is to streamline the project execution process by assisting in the coordination of approvals needed from various government departments," states Dato’ Hasan Azhari Bin Haji Idris, the CEO of Invest Selangor. "We conduct monthly meetings to evaluate the advancements of applications, as well as to address any issues or challenges at the federal, state or local level. We have specialized teams to support both before and after investment. While it's not mandatory for investors to consult or meet with us, it is an available option. Navigating through land-related matters or infrastructure requirements can often be complex. Hence, it's generally more beneficial for companies to approach us first."

The focus of Invest Selangor on cooperative efforts within the region and economic expansion has reaped significant accomplishments. In 2023, it surpassed predictions by logging a total investment of RM55.3 billion (equivalent to US$13.2 billion), with slightly more than RM17.3 billion stemming from foreign direct investment.