THE Penang government has announced that the state managed to record RM14.1 billion in total approved manufacturing investments for the year 2020.
Chief Minister Chow Kon Yeow in his statement yesterday (March 4) said this was based on the latest investment figures released by the Malaysian Investment Development Authority (MIDA).
He said the achievement was due to Penang’s robust industrial ecosystem supported by its versatile ecosystem and strong fundamentals that have the capacity and capability to support the needs of the industries’ next-generation technologies, products, and long-term growth strategies.
Buletin Mutiara managed to interview a few business stakeholders for their views on the matter. Below are their comments.
Datuk Jimmy Ong, Federation of Malaysian Manufacturers (FMM) Penang chairman:
“First and foremost, on behalf of the FMM Penang, I wish to congratulate the Penang government for recording RM14.1 billion investments in 2020 under the very uncertain economic situation.
“It showed that Penang is still an attractive location for foreign direct investments (FDI) and domestic direct investments (DDI) with a good ecosystem, especially for the high-end investments in electrical and electronics (E&E) and medical industries.
“In today’s competitive environment, investors are not only looking at return on investment (ROI) but the whole package, including sustainability issues on the environment, social and governance.
“The high investment figures also will definitely attract more skilled workers to Penang and provide business opportunities to local small and medium-sized enterprises (SMEs).”
Datuk Loo Lee Lian, InvestPenang chief executive officer:
“The commendable performance of Penang’s approved manufacturing investments in 2020 amid the sluggish broader global economy reiterates Penang’s robust industry ecosystem and captivating aspects for both domestic and foreign investors to thrive.
“The InvestPenang team is fully committed to consistently providing the best possible service to our investors.
“And we will continue to work hard to anchor Penang’s position as a destination of choice for high-quality investments.”
Datuk Finn Choong, Penang Chinese Chamber of Commerce (PCCC) vice-president:
“Firstly, congratulations and a job well done to the state government for the remarkable achievements and keeping Penang relevant in these trying times.
“The ecosystem of the world is very fluid (similar to our politics) and everyone, including Penang and our country, will have to be in tune and react and more importantly plan for these changes.
“As the saying goes ‘change is the only constant’. I personally believe that the livelihood of the people is of the upmost importance and if our leaders can plan and cater for this, the support politically will follow even with all the short-term noises.
“This is a sound strategy that the state government is pursuing under the leadership of Chief Minister Chow Kon Yeow since coming to power.
“I truly hope that this long-term strategy continues so that the future of Penang and the country will be bright for my children, the people and future generations.
“Always remembering that goals for the state are always never ending, and the state leaders will always need to be ready to react to keep Penang relevant as a destination of choice for potential investors.
“Congratulations again to the Penang government and its state agencies for positioning us to welcome these investments.”
Marcel Wismer, Kemikon chief executive officer:
“I would like to commend the Penang government for their continuous efforts to attain such achievement in terms of investment performance despite the global economic uncertainties due to the Covid-19 pandemic.
“We currently see tremendous strength in the Penang industry, especially in high tech manufacturing.
“Our company has had record sales in the past three months, and over this period we have hired 20% additional staff.
“We see many industrial projects transferred by our customers from overseas to Penang. We even have enquiries from companies from China and Taiwan seeking how to set up business in Penang.
“Thus, we believe the Penang government is doing a great job to attract foreign investment, and to make sure foreign companies feel comfortable in Penang.
“Just one look at the growth at the Batu Kawan Industrial Park shows the success of the Chief Minister Chow Kon Yeow and his team.
“And I hope such performance will continue for this year as well. Well done Penang government!”
Story by Riadz Akmal
Pix courtesy of the interviewees