SPEECH BY CHIEF MINISTER OF PENANG
IN CONJUCTION WITH THE CHINESE NEW YEAR DINNER GATHERING 2018
ON 28 FEBRUARY 2018 AT G HOTEL
Distinguished guests, members of the press, ladies and gentlemen
I am very pleased to be invited here today to join you to celebrate the Chinese New Year Gathering. It is a pleasure to be here this evening to celebrate the Chinese New Year of the Dog.
I am confident Penangites in general and Penang developers in particular can face the challenges ahead because Penang is blessed with valuable human talent and we believe that Penang’s attractiveness as a location of choice for investors and destination of choice for tourists will continue to make Penang a desirable location of choice for those who desire sustainable living. What makes Penang desirable is simply that Penang is not only cleaner, greener and healthier and most important of all safer than many cities in Malaysia.
These are the reasons why many developers still continue to launch property development projects in Penang despite the challenges ahead. One of them is the willingness of the state government to listen, especially collaborating together to build affordable housing. You shall be receiving good news soon.
Penang continues to achieve sustained economic growth. We achieved GDP growth of 5.6% in 2016, outperforming the national GDP of 4.2%. In 2017, Penang is expected to exceed 6% GDP growth. In 2016, Penang also recorded the second largest investments for Global Establishments for Services or ‘Principal Hub’ with an investment value of RM4.1 billion, after Kuala Lumpur. More recently, MIDA announced Penang as the second top recipient of approved manufacturing investment in first nine months of 2017 valued at RM9.9 billion.
Penang is a top tourist destination in Asia as can be seen by the increase in tourist arrivals. Last year the Penang International Airport (PIA) recorded 7.2 million passengers. This far exceeds the 6.5 million capacity of the PIA and the Federal Government has finally agreed to increase the capacity to 12 million passengers at a cost of RM700 million.
I would like to take this opportunity to wish everyone here a Gong Xi Fa Cai and may the new year will bring good fortune, peace and strength to all.
Thank you and Gong Xi Fa Cai.