Penang Chinese Chamber of Commerce expresses confidence in PH govt

GEORGE TOWN: The Penang Chinese Chamber of Commerce is confident that the new federal government under the stewardship of Prime Minister Tun Dr Mahathir Mohamad can bring the national economy to new heights.
While there is a tentative pattern in the current business climate now, chamber president Datuk Seri Choot Ewe Seng said that the hesitancy was temporary due to the emergence of the new Pakatan Harapan-led government.
"Business folk are waiting for the direction but we know that the positive sentiment will return," said Choot, who leads one of the oldest business organisations in the country.
"We are very confident that the policies will be business – friendly and it will bring the economy to new heights," he said after leading a delegation from the chamber to pay a courtesy call on Penang Chief Minister Chow Kon Yeow here.
Among those present was their executive adviser Tan Sri Tan Kok Pin.
Choot pointed out that there was a slight reduction in the Gross Domestic Product (GDP) rate at 5.4% in the first quarter despite an earlier projection by Bank Negara of 5.9%.
In a memorandum, Choot noted that the Penang government has shown resilience in maintaining a healthy budget surplus despite earlier constraints, and he hopes that sound fiscal measures will continue to be in place.
Among the chamber's suggestion was a review of the 11th Malaysia Plan to ensure that Penang's role in nation building is placed prominently unlike previously because the federal and state governments were not politically aligned.
The chamber also recorded their utmost support to the proposed Penang Transport Master Plan, as it can boost the economy and disperse congestion.
The chamber also called for the speedy expansion of the Penang International Airport and to lower the compliance costs for property projects so houses can be cheaper for the mass market to afford.
For tourism, Choot wants a refocus and more improvements since the sector contribute more than one – third to the state's GDP.
He also suggested that Penang strategically markets its medical – tourism niche and its reputation as one of the better education hubs in the region.
He also proposed a quicker pace to undertake flood mitigation initiatives and to have an efficient meteorological forecast service.
As for foreign workers, Choot urged for a reduction in worker levies as many employers are reliant on foreigners for manpower.
It can be reduced via the curbing of "middlemen" or to provide tax exemptions or to lower their work visa fees.
Chow said that the state hopes to emulate the high standards left by his predecessor Lim Guan Eng, who is now the Finance Minister.