THE Penang government is cautiously optimistic about the state’s economic recovery this year, says Chief Minister Chow Kon Yeow.
Chow spoke about the matter during a dialogue session with the members of the Penang Chinese Town Hall (PCTH) this morning.
“The state government had to confront the Covid-19 crisis and the economic slowdown for the past two years.
“Nevertheless, we are committed in ensuring that the people are vaccinated, and we had also initiated the Covid-19 economic recovery plan.
“We are cautiously optimistic about the state’s economic recovery this year. We will ensure that the state’s manufacturing and services sectors continue to create jobs and retain talents,” he said.
Chow also hopes that the reopening of the international borders will aid the recovery of the tourism industry in Penang
Chow said the Covid-19 economic recovery plan, which was initiated by the Penang State Economic Recovery Committee, focuses on the ways to accelerate Penang’s economy.
“The plan emphasises on creating jobs as well as assisting the small and medium enterprises (SMEs) to weather hard times.
“We also hope that the reopening of the international borders will aid the recovery of the tourism industry in Penang.
“Since May 2018, the state government has fulfilled 80% of the manifesto although being disrupted by the pandemic in the past two years,” he added.
Meanwhile, PCTH chairman Datuk Seri Khor Teng How said the warehouses, which are one of the industrial properties, were seeing a good demand after being hit badly during the pandemic.
“The demand for warehouses is very high, and its occupancy rate is also high.
“And some foreign companies are willing to pay high rent for the warehouses in factories located at strategic places.
“This has resulted in the increase of the rental for industrial properties in the state by 10%,” he said.
Khor also shared that the Batu Kawan Industrial Park, for the past 10 years, has welcomed a total of 160 multinational and local companies to set up their factories there.
Therefore, making the site a sought-after industrial park at the present time.
“Apart from the Batu Kawan Industrial Park, Penang has also other industrial parks located namely at Bayan Lepas, Mak Mandin, Perai, Seberang Jaya, Bukit Tengah, Bukit Minyak, Penang Science Park, Penang Science Park North, and the upcoming Batu Kawan Second Industrial Park.
“This shows that Penang’s industry is moving towards the Penang2030 vision set by the state government,” he added.
Also present during the dialogue session were Penang Legislative Assembly Speaker Datuk Law Choo Kiang, state executive councillor for Non-Islamic Religious Affairs and Social Development Chong Eng and Komtar assemblyman Teh Lai Heng.
Story by Tanushalini Moroter
Pix by Alissala Thian
Video by Chan Kok Kuan