Penang remains one of the top investment destinations in the country for foreign investors, especially in the electrical and electronics (E&E) and medical devices industries.
International Trade and Industry Minister Datuk Seri Mustapa Mohamed said this is because of its history, established infrastructure and strong industry ecosystem.
In a statement, he said from 2011-September 2014, the Malaysian Investment Development Authority (Mida) Penang had facilitated more than 200 visits from foreign companies to the state.
"Mida has held numerous workshops and briefings on the Domestic Investment Strategic Fund to industry associations and companies in Penang since it was introduced in July 2012," he added.
Come Oct 17 and Nov 13, Mida, Mustapa said, will be hosting a Services Sector Investment Seminar in Penang and also be participating in an SMEs conference, respectively.
"Mida has invited INVEST Penang to be a speaker at the Services Conference. In addition, we are also planning to host a SEMICON Conference early next year, the first time ever in Malaysia, in Penang," he added.
Mustapa said this in response to remarks by Penang Chief Minister Lim Guan Eng that the Federal government and Mida had stopped introducing investors to the state over the past year.
He also described Lim as being Lim irresponsible in making such a remark.
According to Mustapa, the government and Mida had been promoting Malaysia as an investment destination for the last 47 years and had never discriminated bringing investments or granting any incentives based on state’s preference.
The decision to invest, among other factors, he said, is determined by the companies’ evaluation of the site location.
Bernama
Sun Oct 12 2014
Datuk Seri Mustapa Mohamed. - File pic
Record November snowfall blankets Seoul
A heavy snow warning was issued in the northeastern districts of Seoul, including Nowon, Seongbuk and Dobong.
China state media warn Trump against mutually destructive tariff war
Donald Trump is threatening Beijing with far higher tariffs than the 7.5%-25% levied on Chinese goods during his first term.
Malaysia to address South China Sea issues As ASEAN Chair next year
Malaysia is committed to resolving disputes in the South China Sea constructively through diplomatic channels and appropriate forums.
Malaysia, Russia to strengthen ties, focusing on digitalisation, energy, trade opportunities via ASEAN, BRICS
Alexander Stuglev says Russia could offer Malaysia cutting-edge solutions in cybersecurity, software development and telecommunications.
Israel-Hezbollah ceasefire takes effect, civilians head back to south Lebanon
Streams of cars began heading to southern Lebanon, which borders Israel, after the ceasefire.
IPIC case: Najib, Mohd Irwan granted DNAA for six CBT charges involving RM6.6 billion
The judge made the decision after allowing the DNAA application submitted by the lawyers representing Najib and Mohd Irwan, respectively.
Trump team signs transition agreement with Biden White House after delays
The move will allow Trump's team to coordinate directly with federal agencies and access documents.
Pakistani forces launch midnight raid on ex-PM Imran Khan's supporters, local media reports
At least six people, including four paramilitary soldiers, were killed before the Tuesday night raid was launched.
Australia moves closer to ban social media for children
Australian parliament's lower house passes the bill, even as Google and Meta press the government to delay the legislation
Prospect of Lebanon ceasefire leaves Gazans feeling abandoned
Months of US-backed Arab mediation have yet to secure a ceasefire between Israel and Hamas to end the war in Gaza.
Four bodies recovered from capsized tourist boat off Egypt's Red Sea coast
The boat, the Sea Story, capsized on Monday near the Sataya Reef while carrying 31 tourists and 13 crew on a multi-day diving trip.
UTP introduced a first-of-its-kind Bachelor of Integrated Engineering with Honours
UTP has proudly unveiled Malaysia's first multidisciplinary engineering programme.
Biden to push for Gaza ceasefire after Israel-Lebanon deal
The US "will make another push, with Turkey, Egypt, Qatar, Israel and others, to achieve a ceasefire in Gaza," says Joe Biden.
JPS issues flood warning, 30 villages in Pasir Puteh expected to be inundated
Flooding is expected near Sungai Semerak, Pasir Puteh, affecting low-lying villages within 5km of the river, according to PRABN.
What Trump 2.0 could mean for trade, migrants, climate change and electric cars
Here's a summary of the policies Donald Trump has said he will pursue when he takes office on Jan. 20.
UN says Taliban detained journalists over 250 times in Afghanistan since takeover
The Taliban-led foreign ministry denies having arrested that number of journalists and added that those arrested had committed a crime.
TikTok becoming app of choice for criminals promoting investment scams - Police
Many users continue to be tricked and scammed even though police have repeatedly issued warnings about scams proliferating on social media.
MOE’s mental health screening identifies students with emotional challenges
Deputy Minister of Education says, those identified with severe emotional issues undergo screening twice a year.
Israel, Hezbollah agree to ceasefire brokered by US and France, to take effect Wednesday
Israel will gradually withdraw its forces over 60 days as Lebanon's army takes control of territory near its border with Israel to ensure that Hezbollah does not rebuild its infrastructure there.
'No one will win a trade war,' China says after Trump tariff threat
Donald Trump says he would impose the tariffs until China stops the flow of illegal drugs, particularly fentanyl, into the United States.