THE state government will continue working towards fostering an investment-friendly environment in the state, says Chief Minister Chow Kon Yeow.
Chow said this when he attended the Penang Premium Business Enterprise Association’s (PPBEA) Chinese New Year and 5th Anniversary dinner at the E&O hotel today.
“Despite being the second smallest state in Malaysia, Penang consistently ranks among the top three in economic contribution, growth, as well as for investment attraction for our country.
“The numbers are very promising as we have successfully retained our position as the country’s top exporter in December last year.
“Five states dominated the nation’s exports which accounted for a total of 81.1 per cent and I am happy to share that Penang is number one at RM37.3 billion.
“Moreover, we are on track to record another great year in our approved manufacturing investment,” Chow added.
Chow also shared that Penang enjoys good investment potential and that he had been busy meeting with investors from China recently.
“Their financial business model is quite different from the Western investors.
“We also encouraged them (Chinese investors) to work together with the local enterprises such as the small and medium-sized enterprises (SMEs) and local large companies.
“They do not only bring the fund but the industry as well,” Chow added.
Apart from that Chow also praised PPBEA for contributing to Penang’s economic growth.
Meanwhile, PPBEA president Datuk Seri Khor Teng Tong mentioned that Penang is a challenging place to do business, and thriving here (Penang) indicates the ability to succeed anywhere.
Story by Tanushalini Moroter
Pix by Alissala Thian