KUALA LUMPUR, February 24 – The government plans to upgrade Penang International Airport and Sultan Abdul Aziz Shah Airport (LTSAAS) instead of developing a new hub with the work to be led by Malaysia Airports Holdings Bhd (MAHB). The Prime Minister, Datuk Seri Anwar Ibrahim, said the proposal to support and encourage the entry of investors, traders and tourists to Malaysia also included the development of Carey Island which will be implemented by the private sector.
“The government plans to expand and improve the capacity of Penang International Airport and LTSAAS. The expansion proposal that will be led by MAHB is expected to benefit economic growth at a much lower cost than the proposal to build a new airport in Kulim which is estimated at RM7 billion. The Kulim airport proposal cannot be considered in the current situation,” he said when presenting the 2023 Budget in Parliament, today.
Regarding Carey Island port, Anwar who is also the Finance Minister said that the project could strengthen Port Klang as a major hub for Southeast Asia. In addition, since the government has named the Tun Razak Exchange (TRX) as Malaysia’s international financial hub, Anwar said TRX needs to work towards attracting the global financial industry that is capable of becoming a major destination for high-quality foreign investment that can strengthen the business ecosystem.
“The government also plans to strengthen development in Iskandar Malaysia Johor by creating a special financial zone with a competitive remuneration package to attract international investors and highly knowledgeable talent to settle in the country,” he said. In addition, Anwar said, the government will also focus on supporting development projects at Sanglang Port in Perlis to handle petroleum and bulk cargo that will add value to the state’s economy.
