Penang Chief Minister Lim Guan Eng insisted that the state is in top form in investments, rebuking critics who suggest that it is in critical condition.
Lim said Penang came out top in the investment charts from 2010 to August 2013, similar to the five-year period investment performance of RM36.1 billion from 2008 to 2012.
This, he added, if compared to the previous five-year period of 2003 to 2007 of RM18.7 billion, is a 100 percent improvement by the Penang Pakatan Rakyat led state government.
"A period of five years is a more accurate and consistent measurement of investment performance than just taking a snapshot over one year or one month," Lim said in a statement.
He was responding to recent press reports that Penang’s investment situation is in a critical situation.
He said this was clearly intended to distract attention from the price hikes by the BN-led federal government in sugar, petrol, power tariffs and road toll.
This is in contrast to the Penang government not imposing any increases in water tariff, quit rent and assessment for 2014, he added.
He cited a Parliamentary written reply from Prime Minister Najib Razak to DAP Kuching MP Chong Chien Jen (left) in September last year, which stated that from 2010 to August 2013, 3,023 manufacturing projects amounting to RM174.3 billion were approved.
Of the amount, a total of RM102.9 billion (or 59 percent) are foreign investments, while RM71.3 billion (41 percent) are local investments.
States with high investments
At the same time, Lim said the five states which record high investments include Penang (RM19.7 billion from 186 projects); Johor (RM16.7 billion from 374 projects); Sarawak (RM15.6 billion from 54 projects); Selangor (RM15 billion from 439 projects) and
Kedah (RM8 billion from 79 projects).
From January to August last year, Lim reported that a total of 463 manufacturing projects amounting to RM29.9 billion investments were approved.
Of the amount, a total of RM18.8 billion (or 62.9 percent) are foreign investments, while RM11.1 billion (37.1 percent) are local.
In the same period, the states which are top five investments spots are Johor (RM6.6 billion with 63 projects); Sarawak (RM4.2 billion with 10 projects); Melaka (RM2.7 billion with 10 projects); Selangor (RM1.1 billion with 58 projects) and Penang (RM1 billion with 28 projects).
Lim said Penang came out top in the investment charts from 2010 to August 2013, similar to the five-year period investment performance of RM36.1 billion from 2008 to 2012.
This, he added, if compared to the previous five-year period of 2003 to 2007 of RM18.7 billion, is a 100 percent improvement by the Penang Pakatan Rakyat led state government.
"A period of five years is a more accurate and consistent measurement of investment performance than just taking a snapshot over one year or one month," Lim said in a statement.
He was responding to recent press reports that Penang’s investment situation is in a critical situation.He said this was clearly intended to distract attention from the price hikes by the BN-led federal government in sugar, petrol, power tariffs and road toll.
This is in contrast to the Penang government not imposing any increases in water tariff, quit rent and assessment for 2014, he added.
He cited a Parliamentary written reply from Prime Minister Najib Razak to DAP Kuching MP Chong Chien Jen (left) in September last year, which stated that from 2010 to August 2013, 3,023 manufacturing projects amounting to RM174.3 billion were approved.Of the amount, a total of RM102.9 billion (or 59 percent) are foreign investments, while RM71.3 billion (41 percent) are local investments.
States with high investments
At the same time, Lim said the five states which record high investments include Penang (RM19.7 billion from 186 projects); Johor (RM16.7 billion from 374 projects); Sarawak (RM15.6 billion from 54 projects); Selangor (RM15 billion from 439 projects) and
Kedah (RM8 billion from 79 projects).
From January to August last year, Lim reported that a total of 463 manufacturing projects amounting to RM29.9 billion investments were approved.
Of the amount, a total of RM18.8 billion (or 62.9 percent) are foreign investments, while RM11.1 billion (37.1 percent) are local.
In the same period, the states which are top five investments spots are Johor (RM6.6 billion with 63 projects); Sarawak (RM4.2 billion with 10 projects); Melaka (RM2.7 billion with 10 projects); Selangor (RM1.1 billion with 58 projects) and Penang (RM1 billion with 28 projects).
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