Penang risks losing high-tech investors to Selangor, says Guan Eng

FORMER Penang chief minister Lim Guan Eng has expressed fears the state is losing high-tech investments, saying his successor must be more proactive in attracting investors.

(TMI) – Taking aim at Chief Minister Chow Kon Yeow, Lim said the man must explain losing at least one such top investment to Selangor.

He was referring to a multi-million ringgit integrated circuit (IC) design project now set to take shape in Selangor.

“Penang should have vied for the project in the first place,” Lim was quoted as saying in Free Malaysia Today, adding that the state was the regional technology hub.

He urged Chow to carry out a post-mortem to find out why Penang had missed the opportunity.

“Penang should have spent money to woo investors,” he added.

“I was told that the Selangor government has pledged RM65 million to the project and has received RM60 million more in federal funds,” the Bagan MP said.

Lim, who is the DAP chairman, said venture capitalists involved in the project have pledged RM75 million more to the park.

“This is an important investment in our future digital, internet-of-things, and artificial intelligence technology (capabilities),” he said.

He said Penang should have won over the investors given that its ecosystem is perfect for an IC design hub.

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