GEORGE TOWN: The Penang government has drafted a plan to reboot the state’s economy post-Movement Control Order (MCO) and Covid-19, Chief Minister Chow Kon Yeow said today.
It entails, among others, focusing on implementing public projects and strengthening SMEs.
He said Penang was working on three branches of reform in the ‘Penang Next Normal Strategies’, which focuses on institutional, economic and social reforms.
“These three reforms will help us map out our economic strategy that will give the people of Penang and general market (the) confidence that the state government is always planning ahead to ensure their interests (are served),” he said during an interaction session via Facebook today.
Hosted by PKR president Datuk Seri Anwar Ibrahim, the session was also participated by Selangor Menteri Besar Datuk Seri Amirudin Shari and Negeri Sembilan Menteri Besar Datuk Seri Aminuddin Harun.
In strengthening the SME sector, Chow said Penang was aiming for a new thinking framework that had actually been carried out in recent years.
He said five measures had been identified, namely, establishing a digital free trade zone in Penang; strengthening the state’s position in the medical equipment sector; refocusing the electrical and electronics (E&E) sector towards product diversification; expanding the global shared services sector; and repositioning Penang in the global supply chain shifts.
“The state government intends to act in advance to ensure that the benefits of the global economy will benefit the state and nation,” he said.
Meanwhile, Chow said although the state government had yet to ascertain the number of local companies planning to downsize or cease operations, it was ready to assist potential job seekers in getting employment.
He said Penang approved manufacturing investments valued at RM13.3 bil last year.
“The investments will create 13,000 jobs from this year onwards, but we need to assist these companies in setting up their plants in order for them to start operating,” he said. – April 21, 2020, Bernama
