PENANG’S economic outlook remains strong this year due to its vibrant Electrical & Electronics (E&E) ecosystem and strong order book received by the industry, amid the ongoing Russia-Ukraine war and Covid-19 pandemic.
Special investment adviser to the Chief Minister Datuk Seri Lee Kah Choon was optimistic about this year’s prospects.
“Our economy and E&E ecosystem are faring well as we had achieved a record-breaking performance of RM76.2 billion in the approved manufacturing investments last year.
“We are positive about the investment performance for this year, underpinned by a healthy investment.
“We expect the strong trade momentum to persist this year due to our core strength in E&E, equipment manufacturing and medical technology, agritech and foodtech, which are considered our natural extension of industry landscape,” he briefed the media on state’s economic outlook virtually today.
Lee, however, said the drawbacks were the raw materials in the manufacturing industry, which would be affected due to the war.
“It will have some implications on us as well,” he said.
On attracting human talents to the state, Lee hoped more talents would flock to Penang in the near future.
“We hope to see more young talents from other places make their way to Penang.
“This is due to the fact that we have aplenty job opportunities available for them.
“In fact, we have engaged with various parties to work on this initiative,” he added.
These include university outreach, graduates procurement programme (GPP), partnership with Technical Education and Vocational Training (TVET), Penang Future Foundation (PFF), and career fair.
“We do not have much resources in our state, but human talents are important for us, ” said Lee.
Story by Edmund Lee