Penang focuses on high-impact sectors, diversifying investment inflows – CM
05 May 2024
The Penang government is placing emphasis on high-impact sectors such as integrated circuit (IC) design, research and development (R&D), and global business services (GBS) to ensure the sustainability of the future economy.
Chief Minister Chow Kon Yeow said that the state government also aims to pioneer emerging fields that will not only benefit the state economy but also have positive spill-over effects for other states in the northern corridor.
“Furthermore, efforts to strengthen the Halal Industry, Halal Tourism and Islamic Finance Technology (Fintech) within Penang will contribute to diversifying investment flows and overall income into Malaysia,” he said.
He was speaking at the closing ceremony of the 2024 Northern Zone MADANI Rakyat Programme, officiated by Prime Minister Datuk Seri Anwar Ibrahim and held at the Sungai Nibong Pesta site near here today.
Chow also said that Anwar’s recent official visits to Saudi Arabia and several other countries hold the potential to assist Penang in achieving its objectives.
“I am hopeful that the Prime Minister will help the state in realising these aspirations by directing investment potentials to Penang, now hailed as the Silicon Valley of the East,” he said.
Source: Bernama
