Home / Business & Finance / MALAYSIA: PENANG STATE CM ASKS CHINESE INVESTORS TO STRENGTHEN PRESENCE IN PENANG

MALAYSIA: PENANG STATE CM ASKS CHINESE INVESTORS TO STRENGTHEN PRESENCE IN PENANG

GEORGE TOWN, Penang state, Malaysia Penang state Chief Minister Chow Kon Yeow has asked investors from China to strengthen their presence in the state by leveraging its unique ecosystem.

He said so far 30 Chinese companies from various industries such as renewable energy, logistics, infrastructure, construction, medical and finance had set up their operations in Penang.

“For the past five years, they (Chinese companies) have invested about RM1.7 billion in Penang, but I believe there are still a lot of opportunities for them to have a stronger present in Penang,” he told reporters after receiving Chinese Consulate General in Penang Lu Shiwei at his office here today.

Chow hoped Chinese enterprises in Penang or from China could explore the possibility of investing in public works, including transport and flood mitigation.

“If they have the necessary funding, they can explore the opportunities of working together (with local businessmen) to enable us to address some of our problems, particularly transport and flooding,” he said.

During the meeting, both parties also exchanged views on the friendship city opportunities between Penang and numerous cities in China, he said, adding that this could materialised through more meaningful, fruitful and productive events.

Meanwhile, Chow said state investment arm InvestPenang has invited Alibaba Group Founder and Executive Chairman Jack Ma to visit Penang.

“His office (Alibaba Malaysia office in Kuala Lumpur) has received our invitation but no date has been set yet for the official visit,” he said.

In June, Finance Minister Lim Guan Eng invited Jack Ma to visit Penang to examine its e-commerce ecosystem and consider investing in it.

Source: NAM News Network

Check Also

MALAYSIA: AT LEAST 200 MORE FLIGHTS BRINGING TOURISTS TO SABAH STATE

KOTA KINABALU, Sabah state, Malaysia Aug 14 (NNNBernama)At least 200 international charter and extra flights, from now until March next year, will bring an influx of tourists to Sabah from China, South Korea and Japan, said Tourism, Culture and Environ...