{"id":39759,"date":"2021-10-07T08:20:41","date_gmt":"2021-10-07T00:20:41","guid":{"rendered":"https:\/\/investpenang.gov.my\/investpenang-upbeat-on-recovery-with-steady-gdp-growth-potential-investments\/"},"modified":"2025-11-28T14:58:12","modified_gmt":"2025-11-28T06:58:12","slug":"investpenang-upbeat-on-recovery-with-steady-gdp-growth-potential-investments","status":"publish","type":"post","link":"https:\/\/investpenang.gov.my\/zh-hans\/investpenang-upbeat-on-recovery-with-steady-gdp-growth-potential-investments\/","title":{"rendered":"InvestPenang Upbeat on Recovery with Steady GDP Growth, Potential Investments"},"content":{"rendered":"

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InvestPenang Upbeat on Recovery with Steady GDP Growth, Potential Investments<\/h1>\n

[\/vc_column_text][vc_separator type=”normal” el_class=”red-separator” color=”#ee4023″ transparency=”1″ thickness=”2″ up=”15″ down=”15″][vc_column_text css=”” el_class=”white-text”]<\/p>\n

6 October 2021<\/p>\n

[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row][vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”grid” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern” css=”.vc_custom_1703764846254{background-color: #f3f5f8 !important;}” z_index=””][vc_column el_class=”fade-in animate”][vc_empty_space height=”120px” el_class=”height-x120″][vc_row_inner row_type=”row” type=”grid” text_align=”left” css_animation=””][vc_column_inner][vc_single_image image=”29523″ img_size=”full” qode_css_animation=”” el_class=”single-featured-image”][\/vc_column_inner][\/vc_row_inner][vc_empty_space height=”60px” el_class=”height-x60″][vc_row_inner row_type=”row” type=”grid” text_align=”left” css_animation=”” el_class=”content-row”][vc_column_inner][vc_column_text]Oct 6 – InvestPenang is optimistic on Penang\u2019s recovery post-COVID-19, driven by the state\u2019s steady Gross Domestic Product (GDP) growth despite challenges posed by the\u00a0pandemic.<\/p>\n

Chief executive officer Datuk Loo Lee Lian said the state\u2019s GDP was growing at an average of 5.0 per cent annually from 2016 to 2019;\u00a0however, the COVID-19 pandemic has affected economic performance nationwide.<\/p>\n

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\u201cPenang\u2019s 2020 target under the 11th Malaysia Plan (11MP) was RM95.5 billion. The state\u2019s actual GDP was\u00a0affected but not by much, recording\u00a0RM92.6 billion last year.<\/p>\n

\u201cAgainst the backdrop, Penang\u2019s manufacturing sector grew 2.8 per cent year-on-year (y-o-y) in 2020 compared with 2.7 per cent in 2019, which helped to cushion negative growth experienced in other sectors during the same period,\u201d she told Bernama.<\/p>\n

Despite disruptions from the pandemic, she said Penang\u2019s export performance has been steady and resilient, recording 7.0 per cent growth y-o-y in 2020 and 16 per cent growth y-o-y for the Jan\u2013July 2021 period.<\/p>\n<\/div>\n

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She said the materialisation of strategic investment projects that Penang has attracted over the past two years, coupled with a healthy pipeline of investment enquiries, also helped to fuel InvestPenang\u2019s upbeat sentiment on the state\u2019s economic prospects.<\/p>\n

Returning to business normalcy a critical focus for 2022<\/strong><\/p>\n<\/div>\n

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Under the 12th Malaysia Plan (12MP), Penang is projected to register an average annual growth rate of 5.4 per cent for the 2021-2025 period compared with 3.5 per cent during the 11MP.<\/p>\n

In order to achieve the projection, she said, the most critical focus for 2022 is the return to normalcy for businesses\u00a0as well as\u00a0sustaining competitiveness.<\/p>\n

She said among strategies that the state is looking at is maintaining and developing infrastructure to enhance the ease of doing business.<\/p>\n

\u201cOn top of its Penang Connectivity Master Plan, the state has a healthy pipeline of industrial land development to provide a robust network for the needs of investors in the Industry 4.0 era.<\/p>\n

\u201cOther strategies include\u00a0enhancing\u00a0Penang’s position in the global supply chain and\u00a0focusing on high value-added activities in semiconductor, electrical and electronics, machinery and equipment\u00a0as well as medical devices,\u201d she said.<\/p>\n

Loo said\u00a0the state government is also looking at encouraging multinational companies to localise their supply chain and provide facilitation services in business matching, which is part of its efforts to elevate small and medium-sized enterprise development.<\/p>\n

Souce: Bernama<\/a><\/p>\n<\/div>\n<\/div>\n

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07<\/h2>\n
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Thu<\/p>\n

October \u201821<\/p>\n<\/p><\/div>\n<\/p><\/div>\n","protected":false},"author":5119,"featured_media":29523,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[316],"tags":[],"news_year":[218],"news_month":[228],"local_insights_alphabet":[],"acf":[],"_links":{"self":[{"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/posts\/39759"}],"collection":[{"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/users\/5119"}],"replies":[{"embeddable":true,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/comments?post=39759"}],"version-history":[{"count":2,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/posts\/39759\/revisions"}],"predecessor-version":[{"id":39777,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/posts\/39759\/revisions\/39777"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/media\/29523"}],"wp:attachment":[{"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/media?parent=39759"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/categories?post=39759"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/tags?post=39759"},{"taxonomy":"news_year","embeddable":true,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/news_year?post=39759"},{"taxonomy":"news_month","embeddable":true,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/news_month?post=39759"},{"taxonomy":"local_insights_alphabet","embeddable":true,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/local_insights_alphabet?post=39759"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}