'Investors not losing confidence in Penang'

GEORGE TOWN: The Penang state government has attracted some RM40 million worth of investments since 2008 and its record is far better than that achieved by the Barisan Government during its management, said Chief Minister Lim Guan Eng.
Refuting allegations that investors had lost confidence in the state, he said his administration had attracted more investors as compared to the six-year record of the previous administration where some RM21 million worth of investments were recorded from 2002 to 2007.
He also said the Penang Development Corporation (PDC) had recently entered into an agreement with Temasek Holdings of Singapore to establish a RM11.3 billion High Technology Industrial Park.
"For Barisan Nasional (BN) to question falling investor confidence is at best ignorant and at a worst a pretense of being unaware," he said in a press conference today.
Penang BN chairman Teng Chang Yeow had on Tuesday called on the state to come clean over the state of investments entering the state.
He had claimed the administration was trying to paint a rosy picture of the environment climate here.
On the Penang International Airport, Lim said the federal government should spend RM600 million to upgrade the airport as opposed to the proposed RM1.6 billion for one in Kedah.
He said bypassing Penang for Kedah was a vindictive punitive action against the people in Penang for giving the mandate to PR.