SINCE last year, Penang has been steadily attracting new and big interest from various potential investors wanting to expand their businesses here, Malaysian Investment Development Authority (Mida) chief executive officer Datuk Arham Abdul Rahman said.
During his courtesy call on Chief Minister Chow Kon Yeow in Komtar today, Arham said there have been many inquiries about Penang’s next industrial area considering the overwhelming response received for the Bayan Lepas Free Industrial Zone and Batu Kawan Industrial Park.
“When potential investors send in their Request for Information (RFI) or Request for Proposal (RFP) based on their desired locations, they expect fast developments.
“Penang is often one of the most preferred investment destinations due to obvious reasons, and in 2021, the state accounted for 41% of the country’s foreign direct investment (FDI); with an all-time high of total approved manufacturing investment of RM76.2 billion.
“And I would like to extend my heartfelt appreciation to you, CM, and the relevant agencies responsible for putting Penang at the forefront when it comes to investment,” Arham said.
In response, Chow said the state is increasing its efforts to make available more industrial land to meet investors’ demands, at least for the next two to three years.
“We have set our sights on developing the Bandar Cassia Technology Park and East Batu Kawan on the mainland, both areas which could potentially give us a total of 900 acres.
“While our focus is on these two areas, for now, we will also be looking to acquire more land in Byram in the south Seberang Perai district,” Chow said.
Separately, Chow and Arham also discussed the talent issue in Penang.
Story by Kevin Vimal
Pix by Ahmad Adil Muhammad