investPenang, the state’s investment arm, and other government agencies will speed up process for foreign investors to start operations as soon as possible once they have identified the state.
Chief Minister Chow Kon Yeow said the state would ensure that the interest of keen investors in Penang are looked into so that they could operate their business as soon as possible.
“The national Budget 2020, which had been announced recently, has already given more incentives for new investment and reinvestment,” he said after attending the Bukit Gelugor parliamentary Deepavali open house in SJK (C) Sin Kang today.
Chow was responding after being asked on whether there would be any increased allocation in the state’s Budget to attract foreign investors.
Chow said the upcoming Budget would not differ much.
“The revenue and expenditure for the upcoming Budget are almost the same as before,” he said.
Chow is expected to table the Penang Budget at the upcoming state Legislature Assembly sitting on Nov 1.
When asked on the assessment tax, Chow noted that it would have to go through the hearing process scheduled to end March next year.
On a separate matter, Chow reiterated that the state-based Asia Comic Cultural Museum is not an agency under the state government.
He denied any involvement between the state and the museum as alleged.
Story by Edmund Lee
Pix and video by Adleena Rahayu Ahmad Radzi