PENANG has topped the national list with RM7.7 billion in approved investments in the manufacturing sector for the first half of 2017.
State Industrial Development, International Trade, Cooperatives and Entrepreneur Development and Community Relations Committee chairman Datuk Mohd Rashid Hasnon said the state recorded an increase of 188% in approved investments when compared to RM2.67 billion last year.
“The increase in approved investments can help boost job opportunities for the people of Penang.
“Penang’s Gross Domestic Product (GDP) is projected to grow by 6% this year as compared to the projected 5.2% growth of the country.
“The unemployment rate in Penang was 2.1% last year, and was the second lowest in Malaysia,” Mohd Rashid, who is also Deputy Chief Minister I said in his winding-up speech at the State Assembly recently.
Replying to a question from Muhamad Yusoff Mohd Noor (BN-Sungai Dua), Mohd Rashid said that the state invested RM75 million in science, technology, engineering and mathematics (STEM) education.
“The investments are necessary for the state to be directly involved in the fourth industrial revolution.
“The fourth industrial revolution, also known as Industry 4.0, is happening and is a global trend,” he said.
Mohd Rashid added that the state would continue to increase awareness among local companies on Industry 4.0 so they could remain competitive in the international arena.
Replying to an oral question from Lee Khai Loon (PKR-Machang Bubuk), Mohd Rashid said the real estate market in the state will remain on the positive track, supported by various current and future developments.
He said based on the National Property Information Centre (NAPIC) 2016, the real estate market in Penang will remain on a positive track.
“According to the report, the state’s efforts in providing affordable housing to the people will contribute to the real estate market and in turn to Penang’s economic growth,” he added.
Mohd Rashid was reading the reply statement of Chief Minister Lim Guan Eng.
He added that data from e-Rumah revealed that demand for affordable housing units in the state remained high with 42,139 units, with only 24,415 units offered for the period from 2008 to October 2017.