GEORGE TOWN, November 24 – Chief Minister Chow Kon Yeow highlighted key challenges affecting Penang’s appeal to investors during the state legislative assembly today, citing unreliable industrial water supply, pricey industrial land, and traffic congestion as major deterrents. Addressing a question from Lee Khai Loon (PH–Machang Bubok), Chow emphasized that these factors, along with higher electricity costs and land assessment rates, are undermining Penang’s position as a preferred destination for foreign investment.
Additional obstacles include a shortage of skilled workers, recurring flash floods in areas like Bayan Lepas and Bayan Baru, and insufficient grade A office spaces for the growing digital economy sector. Chow also acknowledged the intense competition from neighboring countries such as Vietnam, Thailand, and Indonesia, which offer attractive incentives to lure investors. To counter these challenges, the Penang government is collaborating with federal authorities and agencies to enhance infrastructure, address workforce needs, and improve overall investor confidence.
