The global crisis has definitely hit Malaysia and the region, forcing planners and politicians to the drawing board to work out ways of weathering the storm. Anna Ong of InvestPenang takes a quick look at the macro-economic future of Penang.
PENANG managed to secure the highest manufacturing investments in its industrialisation history in 2008. With the RM10.16bil injected into the manufacturing sector last year, the state ranked fourth behind Sarawak, Selangor and Johor. The same year also recorded the highest domestic investments in Penang’s history. The latter – accounting as it did for 50 per cent of the total approved investments – bodes well because it also signals increased activity and optimism among local companies.
Alas, the momentum slowed suddenly and unexpectedly.
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