SHAH ALAM: Selangor has achieved a Gross Domestic Product (GDP) growth of 7.43% from 2021 to 2023, surpassing the five-year target set in the First Selangor Plan (RS-1) initiative.

Menteri Besar Datuk Seri Amirudin Shari said this success reflects Selangor’s ability to foster sustainable and effective economic growth in the country.

"In the latest announcement from the Statistics Department on July 2, Selangor recorded an average GDP growth of 7.43%, exceeding the RS-1 target for the 2021-2025 period, which was set at between 6.5% and 7.0%," he said.

He was presenting RS-1’s mid-term review at the state assembly sitting on Thursday (June 27).

Amirudin said the state government aimed to contribute 27% to the national GDP based on recent developments and the aligned direction between federal and state administrations.

"The state government has set a target for annual average investment value between RM23bil and RM35bil. From 2021 to 2023, the state government achieved an impressive average investment value of RM39.4bil in key complex sectors," he said.

He said this achievement demonstrates the state government's commitment to promoting sustainable and effective economic development and strengthening Selangor's position as a major investment hub in the region.

The mid-term review was presented to evaluate the effectiveness of the state’s implementation system, initiate new shifts outlined in the state's development framework for a five-year period, and implement new efforts based on the Madani Economy. — Bernama

https://www.thestar.com.my/news/nation/2024/07/04/selangor-surpassed-its-gdp-growth-target-by-over-7-says-mb