Image credit: Bloomberg
SELANGOR recorded RM2.18bil in revenue as of October this year, 6.3% higher than the projected figure of RM2.05bil, two months ahead of the year-end.
Mentri Besar Datuk Seri Amirudin Shari attributed this achievement to the reopening of economic sectors, which saw investors resuming business activity.
“During the various movement control order phases, many business sectors had to delay their activities, which resulted in economic slowdown.
“After the borders reopened, many businesses improved and this resulted in an increase in premium and land tax being paid,” he said.
Amirudin said the RM2.05bil target was deemed a conservative forecast, without taking into account external pressures weighing down on economic performance.
“But the economic openness of Selangor, combined with good infrastructure, proved a draw for investments to pour in,” he noted.
He was speaking at the Jelajah Selangor Penyayang event at KIP Sentral in Kota Warisan in Dengkil yesterday.
The programme entered its eighth edition after starting on June 22, with its ninth and final instalment scheduled to take place in Hulu Selangor in December.
Amirudin said the event would be put on hold next month to make way for the 15th General Election.
At the event, he noted that Selangor also exceeded expectations last year after recording RM2.284bil in revenue, higher than the RM2.05bil targeted.
This economic achievement, he said, indicated that Selangor, which housed 6.52 million residents, contributed to nearly a quarter of Malaysia’s gross domestic product last year.
“The state also contributed to 32% and 26% of the nation’s manufacturing industry and service sector, respectively,” he said.
Separately, Amirudin said his administration was mulling over an insurance programme for low-cost housing to cover damage caused by disasters like storms and fires.
“This initiative is to cover the cost of repairing damaged infrastructure and utilities.
“We take into consideration that many low-cost housing estates are unable to foot the high repair bills,” he said.
Also at the event were Sepang Municipal Council president Datuk Abd Hamid Hussain and Sepang district officer Khairi Azali Ibrahim.
Source: https://www.thestar.com.my/metro/metro-news/2022/10/31/sgor-records-higher-revenue-than-expected-again