CHIEF Minister Chow Kon Yeow has called for collective efforts among key state agencies, such as the Penang Development Corporation (PDC), to continue playing its role in facilitating more investment flows into Penang.
As the state’s development agency, Chow says PDC has the responsibility to ensure Penang remains a key contributor to the nation’s overall economy, especially in the manufacturing sector.
“PDC is making a transformative approach in this modern era, and with the launch of the PDC 2024-2028 Strategic Plan recently, I am confident we will continue to attract more foreign investors to expand and set up their core businesses here.
“Under the strategic plan, PDC has a proposal to acquire 3,000 acres of land either in the north Seberang Perai district, south Seberang Perai district or the central Seberang Perai district for industrial development purposes.
“This is vital to ensure we remain a key player in the country’s economy.
“PDC also oversees numerous industrial parks on the mainland, including Batu Kawan Industrial Park 3 (BKIP3) and Batu Kawan Technology Park (BKTP).
“The development of these parks is based on ‘Infra Ready Concept’, in which PDC is working closely with Tenaga Nasional Berhad (TNB) to materialise it,” Chow said in his speech during the PDC Hari Raya Open House at its main office building in Bayan Baru today.
Penang recorded RM71.9 billion in investment inflows in 2023 – the highest in Malaysia, driven by foreign direct investments (FDIs) which accounted for RM61.7 billion, or 85.8% of Penang’s manufacturing investment inflows.
Also present during the event were state Trade, Entrepreneurial Development and Rural Development Committee chairman Rashidi Zinol and PDC chief executive officer Datuk Aziz Bakar.
Story by Kevin Vimal
Pix by Ahmad Adil Muhamad
Video by Darwina Mohd Daud