Monday, June 16, 2008

Dubai companies keen to invest RM33b, says Selangor MB

Monday June 16, 2008 MYT 3:54:53 PM

Dubai companies keen to invest RM33b, says Selangor MB


SHAH ALAM: Seven investors from Dubai have expressed keen interest to invest US$10bil (RM33bil) in various sectors including food and manufacturing in the five Pakatan Rakyat-held states.

Selangor Mentri Besar Tan Sri Khalid Ibrahim said he met with the investors during his visit to Dubai, UAE, recently and they showed signs of apprehension over investing in states not held by Barisan Nasional.

He said the investments would help states like Selangor maintain the economic growth rate which was higher than the national growth rate.

“The investors are looking at investing in states like Selangor and use them as a stepping stone to expand into other Asian countries,” he said Monday during his speech at the monthly gathering with government department heads.

He said however there was a need for Selangor to continuously increase its efficiency in managing the state if it wanted to attract more investors.

Speaking to reporters later, Khalid said, the state government was also seriously looking into increasing revenue by taking over the total operations in certain areas where it had been nothing more than the licensing authority.

“In the case of sand-mining activities for example we now collect about RM20mil a year through licences and royalties but we can make RM200mil if we manage the whole operation,” he said.

He said the state government was serious about implementing its “people’s economy” concept that would allow it to dish out more benefits to the people and increasing its revenue was vital in providing the benefits.

Khalid said he was also working towards introducing a change in mindset among civil servants that they were just the managers of the state’s resources while the people were the actual owners.

“The government therefore is not handing out ‘donations’ to the people when it provides aid or benefits but is instead returning the revenue to the owners of the resources,” he said.

Khalid said the state government would make an announcement on the benefits it will be offering the people on June 20 which will be Pakatan Rakyat’s 100th day in office.

He said the state government was using a report card system to look at the Pakatan Rakyat’s performance over the first 100 days in office and how it would implement the rest of its election promises to the people.

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