Almost RM8bil investment pumped into Penang - MIDA | Malaysian Investment Development Authority
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Almost RM8bil investment pumped into Penang

Almost RM8bil investment pumped into Penang

03 Dec 2022

THE state government earned a total of RM1.3bil in real investment from January to June 2022, says Penang trade, industry and entrepreneurial development committee chairman Datuk Abdul Halim Hussain.

“RM6.5bil more was recorded for reinvestment. This brings up the total investment value to RM7.8bil.

“The data was obtained from Invest Penang and Malaysian Investment Development Authority (Mida),” he said during his winding up speech at the recent state assembly sitting.

On a separate matter, Abdul Halim said he took note the proposal by Kumaresan Arumugam (PKR-Batu Uban) to accommodate more local entrepreneurs at the Penang Pesta site in Sungai Nibong.

“The site is under the supervision of the state Finance Department and we are always keen to provide business opportunities to locals.

“Penang Pesta has been held annually for almost 50 years and rebranding is needed to make it a tourist attraction,” he said.

Meanwhile, state public works, utilities and flood mitigation committee chairman Zairil Khir Johari said there were plans to boost the ferry service which earned a total ridership of 930,529 this year.

“The ferry travel time issue was brought up to Penang Port Sdn Bhd (PPSB) in a meeting on Nov 17.

“PPSB responded that they only have two speedboat ferries for the time being.

“I hope this number will be increased to five ferries within half a year,” he said, adding that he would also request that the ferry service begin operations at an earlier time.

On the raw water matter, Zairil said the state was well aware of the urgent need to provide an additional source by tapping into Sungai Perak.

“This is because Sungai Muda can only meet the raw water needs of Penang until 2025.

“The state government will ensure that negotiations with the Perak government are concluded as soon as possible.

“A study by the Environment and Water Ministry on the Sungai Perak Raw Water Transfer Scheme (SPRWTS) project shows that the river can meet the needs of Penang and northern Perak until 2050,” he said.

Source: The Star