THE Penang government will set aside funds for development in the state next year.
Chief Minister Chow Kon Yeow said the state Budget for next year (2020) would be quite similar to this year’s Budget.
“It is very small if you compare it with the national Budget. We will continue our social programmes and we are allocating funds for development.
“It is sufficient to support the development in Penang and to look after the welfare of the rakyat,” Chow told a press conference after attending the Asia-Pacific Heritage 20/20 Forum at Bangunan UAB in China Street Ghaut today.
Chow said Penang, like other governments, was also looking at private finance initiatives (PFIs).
“For example, the Penang Transport Master Plan (PTMP) projects are, sort of, by way of PFI.
“The state would not be burdened if there is no budgetary allocation for projects supported by way of PFI. The state allocation will just act as a source of revenue to support development projects.
“The government will also continue to play its role to facilitate private initiatives and support the development of private sector,” he said.
Chow added that the state government has continuously promoted Penang internationally.
“We welcome the private sector to leverage on the government’s efforts to promote Penang,” he said.
Chow said that the state plays a catalytic role in facilitating projects, while the private sector collaborates, operates, and bring in more tourists to Penang.
Story by Christopher Tan
Pix by Law Suun Ting
Video by Alvie Cheng