GEORGE TOWN: Penang has done well in 2024 despite being the second smallest state in the country, says Chow Kon Yeow.
The Penang Chief Minister said the state's industrial sector successfully recorded an impressive investment achievement for 2024, with approved investments amounting to RM22.6bil as of the third quarter of this year.
"This includes RM12.1bil from the manufacturing sector and RM10.4bil from the services sector.
"The figures reflect investors' confidence in the state's potential, with 364 projects recorded by the Malaysian Investment Development Authority (Mida) and an estimated 14,042 new job opportunities created, particularly for the people of this state," he said in his New Year address on Tuesday (Dec 31).
He said by 2025, Penang would have five more years to realise its Penang2030 Vision and most of the achievements had been recorded.
"Our journey in 2024 is coming to an end.
"As we approach 2025, the state government has only five years left to realise the Penang2030 Vision, aimed at creating a 'Smart and Green State Inspired by Family as a National Inspiration'.
"As of Dec 31, 2024, a total of 73% of targeted achievements had been recorded with 359 projects successfully completed, nine ongoing, and five more ready to be implemented," he said.
In addition to the Penang2030 Vision, Chow said Penang's State Economic Ecosystem Development (SEED) strategy was launched in 2023 as a continuity plan for this vision.
"Penang’s role as one of the main contributors to the nation's economic development, particularly in the manufacturing industry and service sector, is undoubtedly a remarkable achievement.
"However, it cannot be denied that the vibrancy of the state’s economy requires this administration to work harder to strengthen infrastructure and establish an efficient public transportation system to ensure smooth mobility, enhance quality of life, and ease traffic congestion.
"To meet these needs, Penang has planned and implemented various initiatives to optimise infrastructure and public transportation, particularly the Mutiara Line Light Rail Transit (LRT) project, which is currently under negotiation.
"Additionally, the land for the LRT depot in Silicon Island is expected to be completed and handed over to the developer and asset owner for the project, MRT Corporation, by the end of 2025.
"Simultaneously, the Penang International Airport (PIA) expansion project, announced by the Federal government and initiated by Malaysia Airports Holdings Bhd (MAHB) in mid-2024, is also a strategic step to transform PIA into one of the airports with the highest connectivity and flight volume in the country, if not Asia.
"The increase in tourist arrivals to Penang is further driven by the growing number of direct flights from various global locations, particularly with the introduction of new routes to Shenzhen, China, and direct flights from Penang to Chennai, India.
"This increase not only benefits the tourism sector but also provides a positive boost to the state’s economy as a whole," he said.
Chow said, as the "captain" of the state government, he remains committed to ensuring the state continues to be driven by transparent, progressive, and humane governance.
He said the state government administration will continue to deliver the best services to ensure no one is left behind in the state’s development.
"I hope that all Penangites will together welcome 2025 with a paradigm shift.
"I pray that the New Year brings happiness, good health, and prosperity in terms of economic growth and harmony to all Penangites.
"May our country and especially Penang continue to shine on the world stage," he said.
