Malaysia’s Selangor seeks investment boost from Turkey

A virtual conference to attract investments from Turkey for Malaysia's Selangor province will be held on Sept. 14.

"Turkey is a prominent center of attraction for international investors with broad production potentials, qualified manpower, strategic location, modern logistics infrastructure and incentive packages that cater to any needs," the World Islamic Economic Forum Foundation (WIEF) said in a statement.

It said Selangor has all the "right ingredients to make up for an ideal business landscape in Malaysia."

"Selangor is an economic powerhouse contributing to nearly one-quarter of Malaysia's gross domestic product," the statement said.

The state has been focusing on five core clusters of electrical and electronics, transport equipment, life sciences, food and beverages, manufacturing and machinery and equipment, it added.

"Malaysia and Turkey signed a joint declaration on the expansion of Malaysia-Turkey Free Trade Agreement in July 2021 to reinforce the mandate in pursuing the expansion of the agreement to include chapters on services, investment and e-commerce," the statement added.

The event is expected to be attended by Selangor's Chief Minister Amirudin Shari; Turkey's Ambassador to Malaysia Merve Safa Kavakçı; Hasan Gümüş, chairman of the Turkey-Malaysia Business Council of the Foreign Economic Relations Board of Turkey (DEIK); Hasan Azhari Haji Idris, chief executive officer of the Invest Selangor Berhad, Malaysia; and Ahmed Emre Büyükkılıç, ASEAN representative at the Presidency of the Republic of Turkey Investment Office.