By Norrasyidah Arshad
SHAH ALAM, July 3 — Selangor's contribution of 25.5 per cent to the national gross domestic product (GDP) is a clear indication that the state's plans and strategies have produced the desired results, said Dato' Teng Chang Khim.
The executive councillor for investment said the achievement also consequently means Selangor can be regarded as an “important” state.
"The state's GDP continues to increase over the past 10 years to a point where we are now able to contribute over a quarter of the country's economy, far ahead of any other state.
"This success is owing to our efforts and strategic planning, which are showing positive results," he said when contacted today.
Teng said Selangor now needs to further intensify efforts, including exploring the research and development field, to ensure its GDP continues to grow.
"We can no longer only rely on foreign parties to invest here. Instead, we must also plan and invest, particularly in research and development. It is our job to invest and attract investors to Selangor.
"This, to me, is a challenge we need to face to develop our value chain. We can't just focus on the manufacturing industry, but should also explore other opportunities," he said.
Last week, the Department of Statistics Malaysia (DOSM), in its report, announced that Selangor's GDP contribution has increased to 25.5 per cent in 2022, compared to 24.8 per cent the previous year.
The state's economy also grew by 11.9 per cent last year, surpassing the national rate of 8.7 per cent.
