Penang Poised to Grow Despite General Uncertainties

By Ong Wooi Leng

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PENANG’S ECONOMIC RECOVERY is estimated to remain cautiously buoyant, with the reopening of economic activities, continued external demand especially for semiconductor products, and further improvement in labour market conditions. These were partially offset by weak consumer-related activities in the first nine months of 2021 and by marked uncertainties in combating new Covid variants of concern (VOC); both of which have also introduced heightened policy challenges.Manufacturing and tourism activities are the main drivers of the state’s GDP. However, in 2020, weighed...

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Ong Wooi Leng

heads the Socioeconomics and Statistics Programme at Penang Institute. Her work lies in labour market analysis and socio-economic development.