Friday, February 13, 2009

Record year for domestic investments in Penang ...HOORAY !!!

It is official. Statistics released by the Malaysian Industrial Development Authority (MIDA) showed Penang hitting investments totalling RM10.2 billion in 2008, the highest-ever achieved in the state.

Penang Chief Minister Lim Guan Eng said the total investments were more than than double the RM4.7 billion achieved in 2007.

"This is the year-end report card. Penang recorded the highest investments from domestic investors totalling RM5.068 billion while foreign investors invested RM5.087 billion.

"It is also heartening to note, that at a time when many companies are consolidating and retrenching workers, these investments will create more than 22,215 jobs beginning this year.

"Out of this total, 9,832 job opportunities will be created from new investments and 12,383 jobs for expansions and diversification," Lim said at a press conference after receiving a delegation from the Penang Bar committee.

Attributing the record investments to the hard work put in by InvestPenang Bhd, Penang Development Corporation (PDC) and the state government, Lim said 9,172 posts or the bulk of the job opportunities were from the electrical and electronic sectors.

He added the Penang state government would intensify efforts to ensure that investors in Penang remained, especially those with high value investments.

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