GEORGE TOWN, May 15 – Penang Chief Minister Chow Kon Yeow delivered his winding-up address at the First Meeting of the Fourth Session of the Fifteenth Dewan Undangan Negeri Pulau Pinang on 14 May 2026.
Expressing appreciation to the Yang di-Pertua Negeri Tun Ramli Ngah Talib and assembly members. He said Penang’s economy remains resilient with projected 2026 GDP growth of 4%–5%.
Supported by high-tech manufacturing and E&E sectors. Inflation is expected to stay moderate at 1.5%–2.5%, while approved investments reached RM63.96 billion.
With manufacturing and services continuing to attract strong investor confidence, according to the Malaysian Investment Development Authority Malaysian Investment Development Authority.
He also reported a state surplus of RM93.17 million and reaffirmed fiscal discipline. Key reforms include the 2026 land tax review, long-term Penang International Financial Centre (PIFC) plan.
And strengthening governance of state-linked firms including CMI and Invest Penang InvestPenang. The government stressed balancing revenue sustainability with public welfare,
With targeted rebates and development programs. Chow said all proceeds will be reinvested into infrastructure, social initiatives and economic development aligned with Penang2030.
He added that the state will continue strengthening transparency, digital communication, and public engagement while advancing Penang as a high-value, sustainable and competitive economy.
