Penang records country's highest investment inflow in 2023
Published: Mar 15, 2024 3:31 PM
Penang recorded RM71.9 billion in investment inflows in 2023 - the highest in Malaysia - driven by foreign direct investments which accounted for RM61.7 billion, or 85.8 percent of Penang’s manufacturing investment inflows.
Chief Minister Chow Kon Yeow said this was the result of the state’s transparent, investor-friendly and competitive economic policies.
“The figure underscores international investors’ confidence in the state’s potential and the attractive opportunities offered across the board,” he said in a statement today.
He said through collaboration with the federal government and the Northern Corridor Implementation Authority, the state successfully facilitated investments worth RM13.67 billion, thereby creating over 14,000 job opportunities last year.
Chow, who is also the Finance, Economic Development, Land and Communications state executive councillor, said the Northern Corridor Economic Region’s (NCER) Technology Innovation Centre (NTIC) building in Bayan Lepas is expected to be completed in the third quarter of this year.
He said the NTIC will be the main platform to attract technology-related investments to NCER via collaborations between local small and medium enterprises, multinational companies and academics.
The centre focuses on activities related to research, design, technology, innovation and commercialisation.
- Bernama
Know nothing mfer, how is this jelled with yr opt-quoted economic doomsday of Penang?
ReplyDeleteThe decaying developed West r going while the blooming developing China is coming!
https://www.thestar.com.my/news/nation/2023/12/11/penang-records-rm449bil-in-total-approved-investments-in-first-nine-months-of-2023-says-cm#openShareModal
ReplyDelete"Prominent contributions came from countries such as the Netherlands, the United States, and Singapore,"
Take your hogwash about "decaying West " elsewhere.
Mfer, don't just read the labels. Find out who r the real owners of these companies from the Netherlands, the United States, and Singapore!
Delete