THE Penang government remains steadfast in creating a conducive business environment.
Chief Minister Chow Kon Yeow said this in his speech during the Free Industrial Zone Penang Companies Association (Frepenca) Annual Dialogue and CEO Networking Dinner at St Giles The Wembley Hotel in George Town this evening.
According to him, state agencies like InvestPenang and Penang Development Corporation (PDC) would continue to play pivotal roles in facilitating investments and ensuring seamless operations through the provision of necessary infrastructure and facilities.
“Recognising progress challenges, we prioritise addressing issues like traffic congestion.
“Our commitment to the Penang Transport Master Plan, especially the Bayan Lepas Light Rail Transit project, exemplifies our comprehensive approach to tackling traffic woes.
“Simultaneously, our endeavours to secure the Federal Government’s support for the construction of the Juru-Sungai Dua Expressway project underscore our dedication to holistic traffic solutions,” said Chow.
Chow added that the economic journey of Penang has been nothing short of remarkable.
According to him, in the fiscal year 2022, the state gross domestic product (GDP) witnessed an impressive 13% year-on-year growth, reaching RM112 billion.
“The services and manufacturing sectors, constituting 95% of our GDP, grew at a rate of 11% and 15% respectively, underscoring the resilience and dynamism of our economic ecosystem.
“Beyond the numerical triumphs, Penang has emerged as a beacon for investments, attracting a total of RM16.3 billion, with manufacturing securing a significant RM13.7 billion.
“The approval of RM4.3 billion in manufacturing investments in the first half of 2023 further solidifies Penang’s status as a coveted investment destination,” he said.
Chow also expressed his deepest appreciation to dedicated investors whose unwavering commitment has been a cornerstone in shaping Penang’s success story.
He said their belief in the state’s potential has played a pivotal role in propelling Penang to greater heights.
“As we continue this journey of excellence, your presence, investments, and collaboration with the Penang government are not just welcomed; they are integral to our shared success.
“Together, let us craft a future that pulsates with economic vitality, resonates with environmental stewardship, and thrives on social inclusivity.
“Let us, as one united community, embrace the challenges of tomorrow with determination, creativity, and a shared sense of purpose. Together, we can build a Penang that not only stands as a testament to its past achievements but also as a beacon of progress for generations to come,” he said.
Also present during the programme were Penang Island City Council (MBPP) engineering department deputy director Zainuddin Mohamad Shariff, Penang Water Supply Corporation (PBAPP) chief executive officer K. Pathmanathan, InvestPenang chief executive officer Datuk Loo Lee Lian, PDC chief executive officer Datuk Aziz Bakar and Frepenca president Dr David Lacey.
Speaking about the programme, Chow said it was a good platform that exemplifies the collaborative spirit propelling Penang into a future of shared success.
“As we commemorate ’50 Years of Excellence and Beyond,’ it is an opportune moment to delve into the intricate layers of Penang’s economic landscape,” said Chow.
He also commended Frepenca for providing such a platform for meaningful discussions and collaborations.
“The relationships forged here tonight will undoubtedly contribute to the continued success of Penang.
“May our collective efforts pave the way for a prosperous and sustainable Penang,” he concluded.
Various issues were discussed during the dialogue session which included electrical supply quality issues, water scarcity, state economic projection, public transportation, contraflow bus lanes at Penang Industrial Zones in Bayan Lepas and other matters.
Chow gives his commitment that the Penang government through related state agencies would look into the issues thoroughly to find the best solutions.
Story by Riadz Akmal
Pix by Muhamad Amir Irsyad Omar
Video by Noor Siti Nabilah Noorazis