Penang eyes more diversified investments in 2022

01 Jan 2022

The Penang government wants to diversify investments beyond the electrical and electronics (E&E) industry in the state as it aims to expand job opportunities and attract more foreign investments in the new year.

“We want more diversified investments as all this while the E&E sector has been the main draw, so we are hoping that investments from the industry will expand into related segments such as medical devices and new technologies to ensure that the services sector expands as well, as in the past two or three decades the services and manufacturing sectors have been the twin-engine of growth (in the state),” said Chief Minister Chow Kon Yeow.

“We want to focus on the use of higher technologies such as those in the digital economy although this is still at an early stage. This is for the future of the state,” he told reporters after officiating the City Walk Programme here.

He said potential investments into the state would create jobs in the next few years and help enhance income levels, especially those in the professional and technical fields.

“We do not neglect such important factors as we want to create an ecosystem that is balanced and competitive, and we also want to ensure that expertise and skilled labour are sufficient to meet demand and job opportunities in Penang,” he added.

Source: Bernama