News & Articles Selangor to be leading GDP contributor to national economy
Selangor to be leading GDP contributor to national economy
14 Mar 2016
Selangor is optimistic of becoming the leading gross domestic product (GDP) contributor by state to the nation's five per cent GDP growth in 2015, its investment promotion agency, Invest Selangor Bhd (previously Selangor State Investment Centre) said.
According to the Department of Statistics' GDP by State 2010-2014 Report, Selangor led the GDP contribution, registering 22.4% followed by the Federal Territory (FT) of Kuala Lumpur (15.1%), Sarawak (10.1%), Johor (9.3%), and Sabah (6.5%).
Invest Selangor chief executive officer Hasan Azhari Idris said although the full figures for the 2015 GDP share by state had yet to be released by the Department of Statistics, it was confident that the percentage would be higher.
Looking at the current (economic) situation, the services sector will still be contributing a lot to Selangors share of the GDP, he told Bernama recently.
Hasan Azhari said the manufacturing sector contributed 59% to Selangor's services sector, while 30% came from the manufacturing sector.
According to the Department of Statistics' 2010-2014 Report, Selangor and the FT of Kuala Lumpur were major contributors to the services sector in the country with a combined percentage of 49.9%.
In the manufacturing sector, Selangor's contribution was 28.8% followed by Penang (12.5%), Johor (12.4%) and Sarawak (12%).
Hasan Azhari said in 2015 Selangor achieved investments of RM7.9bil, up from RM7bil in 2014.
“Selangor is ranked third in Malaysia in terms of total capital investment in the manufacturing sector at RM7.9bil.
“However, based on the number of projects approved, we are ranked first with 222 projects followed by Johor with about 130 projects”, he said.
On Selangor's investment target for 2016, Hasan Azhari expects the investments would be lower by about 20% in view of the global and national economic challenges and supported by global and national forecasts.
According to the Department of Statistics' GDP by State 2010-2014 Report, Selangor led the GDP contribution, registering 22.4% followed by the Federal Territory (FT) of Kuala Lumpur (15.1%), Sarawak (10.1%), Johor (9.3%), and Sabah (6.5%).
Invest Selangor chief executive officer Hasan Azhari Idris said although the full figures for the 2015 GDP share by state had yet to be released by the Department of Statistics, it was confident that the percentage would be higher.
Looking at the current (economic) situation, the services sector will still be contributing a lot to Selangors share of the GDP, he told Bernama recently.
Hasan Azhari said the manufacturing sector contributed 59% to Selangor's services sector, while 30% came from the manufacturing sector.
According to the Department of Statistics' 2010-2014 Report, Selangor and the FT of Kuala Lumpur were major contributors to the services sector in the country with a combined percentage of 49.9%.
In the manufacturing sector, Selangor's contribution was 28.8% followed by Penang (12.5%), Johor (12.4%) and Sarawak (12%).
Hasan Azhari said in 2015 Selangor achieved investments of RM7.9bil, up from RM7bil in 2014.
“Selangor is ranked third in Malaysia in terms of total capital investment in the manufacturing sector at RM7.9bil.
“However, based on the number of projects approved, we are ranked first with 222 projects followed by Johor with about 130 projects”, he said.
On Selangor's investment target for 2016, Hasan Azhari expects the investments would be lower by about 20% in view of the global and national economic challenges and supported by global and national forecasts.
Source: Bernama.com