Summary
- Penang engages 16 strategic investors during U.S. trade mission.
- State clarifies land acquisition plans and RM313.63 million failed auction.
- Economic growth raises concerns over industrial dependence, housing and jobs.
GEORGE TOWN, November 9 — Penang Chief Minister Chow Kon Yeow has outlined the state’s investment and land development priorities as lawmakers raised concerns over economic sustainability.
Industrial dependence and public welfare during the State Assembly’s Budget 2027 debate. Chow said a September trade mission to the United States involved discussions.
With 16 strategic investors in San Jose, including major semiconductor and technology companies, aimed at strengthening existing partnerships and attracting new investments.
However, he said the potential investment value remained uncertain because major investment decisions typically require several years of negotiations and planning.
According to Social Security Organisation records, 1,755 manufacturing workers in Penang experienced employment transitions between January and October 9.
Including 372 linked to business closures or partial shutdowns involving 48 employers. On land development, Chow said Bukit Langkap was not currently designated as a primary development site.
Under the proposed Central Seberang Perai development corridor, allowing existing activities to continue pending further studies.
The state is also considering ex-gratia payments or replacement land for affected plots while allowing renewal applications for 83 active temporary occupation licences.
Separately, Chow explained that an unsuccessful public auction of six acres near Gurney Drive, carrying a reserve price of RM313.63 million, was intended to help finance remaining construction works on the Ayer Itam bypass project through a land-swap arrangement.
Meanwhile, Bertam assemblyman Reezal Merican urged the government to diversify Penang’s industrial base, strengthen technology financing and improve affordable housing.
He also called for the expansion of Kepala Batas Hospital, stronger flood mitigation measures and sustainable industrial development.
The debate highlighted growing pressure to ensure Penang’s economic achievements translate into better employment opportunities, infrastructure and living standards for residents.
