In 2010, this island state ramped up foreign direct investment ofRM12.2 billion, topping all states in Malaysia.
This is more than one quarter of total investments into Malaysia for the year of RM47.2 billion as well as a jump of 465 per cent increase from 2009 according to figures just released by the Malaysian International Development Agency (Mida).
Chie Minister Lim Guan Eng attributed this runaway success to foreign confidence i n the island state's
energy, expertise and entrepreneurship of Penang’s human talent.
He claimed that with the best financial performance, the best state in clean governance, the best green practices and as “the newly-crowned champion amongst all states in attracting investments., Penang leads the way again!
He credited Penang’s success to the hard work of the state’s 1.6 million residents, together with that of the state government as well as federal government agencies such as Mida and the Ministry of International Trade and Industry.
Lim said this was the first time Penang had led other states in investments and was the highest figure ever achieved by the state, totalling 26 per cent of total investments in the country.
He said the success affirms the state administration’s strategy of promoting Penang based on the availability of skilled workers, efficient supply chain management, reliability as a logistics and communications hub, strong protection for intellectual property, good governance, building creativity and innovation in science and technology, and George Town as a liveable and intelligent city.
Yesterday, Minister of International Trade and Industry Datuk Seri Mustapa Mohamed announced a 45 per cent increase in Malaysia’s investment performance from RM32.6 billion in 2009 to RM47.2 billion in 2010.
Well, Penang seems to be doing the right thing. I do hope otehr states can take a leaf from this success to earn brownie points as well to attract foreign investment in 2011.
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