Penang shoots to top spot for capital investment

By Harakah Daily

Penang has come up tops for capital investments in the manufacturing sector last year by contributing 26 per cent of the total investment in the country in 2010.

According to figures released by Malaysian International Development Agency (MIDA), the Pakatan Rakyat ruled state has increased its investment by a whopping 465 percent from RM2,165 million in 2009 to RM12,238 million in 2010.

“The significance of this historic achievement is highlighted by Penang’s contribution of RM12,238 million to Malaysia’s investment constituting 26% of Malaysia’s total investments of RM47,177 million in 2010,” said chief minister Lim Guan Eng in a statement to Harakahdaily.

Lim (right) added the state had moved up to occupy the highest ranking in 2010, from its fourth place in 2009. Selangor came in second with RM10,641 million in 2010, a 50 percent increase from RM6,759 million in 2009.

Other PR-led states Kedah and Kelantan also saw increase in capital investment, with Kedah registering 30 percent more investment (RM1,960 million) in 2010 and Kelantan 34 percent more (RM169 million).