GEORGE TOWN: Penang has achieved several significant milestones in 2024, showcasing strong economic growth and social development, including attracting investments totalling RM31.38 billion.
Chief Minister Chow Kon Yeow said these investments are expected to create over 6,600 job opportunities, particularly in the high-value manufacturing sector, advanced services, and modern agriculture.
“Additionally, Penang recorded the third-highest compliance rate for Employees Provident Fund contributions nationwide at 99.15 per cent, and solidified its position as a leading medical tourism hub in Southeast Asia,“ Chow said during his address at the Public Service Members Assembly at Dewan Seri Pinang today.
As of Dec 2, 2024, he shared that 306 projects under the 12th Malaysia Plan (12MP) have been approved for Penang, including 246 new initiatives under the 4th Rolling Plan (RP4) and 60 continuation projects, with a total cost of RM28.4 billion.
Chow noted that RM1.35 billion was allocated for 2024, of which RM1.11 billion, or 81.76 per cent, has been utilised.
Under the 5th Rolling Plan (RP5) of the 12MP, 10 priority projects have been listed in the Penang State Wishlist Module within the MyProjek System; of these, he said eight projects have been accepted for consideration by the Ministry of Economy.
“I hope that our Federal ‘extended family’ will prioritise Penang’s proposed projects, as they are significant, including road construction, coastal erosion prevention structures, health clinic development, and other essential initiatives,“ he said.
On the ASEAN-Malaysia Chairmanship 2025, Chow highlighted Penang’s pivotal role in hosting regional programmes, aligning with Malaysia’s aspirations and ASEAN’s collective goals.
“Penang, also known as the Pearl of the Orient, will host several key ASEAN meetings, cultural events, and high-impact economic and tourism initiatives,” he said.
Malaysia officially assumes the ASEAN Chairmanship on Jan 1, 2025, with the theme “Inclusivity and Sustainability,“ symbolising the nation’s vision for a united and prosperous ASEAN region.
