THE Penang government is committed to providing the best infrastructure to continue retaining and attracting new investors into the state.
Chief Minister Chow Kon Yeow said the state government is confident that the existing infrastructure is capable and could still meet the needs of companies investing in the state.
“We notice that one of the main factors for existing companies to continue investing and new investors choosing Penang as their investment destination is due to the availability of the rapidly growing infrastructure in Penang.
“Among the infrastructure provided in old and new industrial areas are better road connectivity, electricity and water supply, sewage treatment plants as well as telecommunication infrastructure. They are constantly upgraded and well maintained by the relevant agencies from state and Federal Government.
“This shows our commitment to continue providing the best infrastructure in the state to cater to all our current and future investors,” Chow (PH-Padang Kota) said in his reply to Ong Ah Teong (PH-Batu Lancang) during the question and answer session at the State Legislative Assembly sitting today.
Ong had wanted to know whether the current infrastructure in the state is capable of catering to the current and new investors and the initiatives taken by the state to retain the current investors.
According to Chow, the state government is now focusing on investment from certain sectors, especially the manufacturing and services sectors that include electrical and electronics (E&E), semiconductors, medical equipment, aerospace, digital economy, global business services, integrated circuit (IC) design and high-value projects.
“As we know, our state is equipped with a perfect ecosystem such as technically-skilled and knowledgeable human resources, competitive operating costs as well as the international-standard infrastructure and industrial parks.
“Hence, the state government will continue to focus and strengthen these aspects so that investors who have invested here are more competitive and can continue to remain and invest in our beloved state,” he added.
Chow said the state government has also set up the Penang Manufacturing Industry Advisory Council in April 2021 to ensure continuous development of the state’s industry and to ensure that existing and new investors could be taken care of more effectively.
“The formation of the Penang Manufacturing Industry Advisory Council also serves as a communication platform between government agencies and the private sector.
“The advisory council consists of InvestPenang, Federation of Malaysian Manufacturers Penang (FMM Penang), Small and Medium Enterprises Association (Samenta), Free Industrial Zone Penang Companies Association (Frepenca) and the Association of Malaysian Medical Industries (AMMI),” said Chow.
Chow said that the state government, through InvestPenang, together with international companies has organised the Supplier Day.
“Through this, investors are welcomed to provide information on the materials or services they are looking for in the local market and the selection criteria for their suppliers.
“This will allow them to have direct interaction with the potential local small and medium-sized enterprises (SMEs) and small and medium industry (SMI), and turn them into local suppliers, besides speeding up their local sourcing process.
“This, in turn, will give an opportunity to the local companies to establish themselves by providing their products or services to the international companies,” he said.
Story by Riadz Akmal
Pix by Adleena Rahayu Ahmad Radzi and Law Suun Ting