Media statement by Lim Guan Eng in George Town on Friday, 27^th January 2012: 

Penang hopes that the RM4 billion high-tech and solar energy investments by Ibiden and Robert Bosch Solar will be included in the 2011 December investment figures  

Penang hopes that the RM4 billion high-tech and solar energy investment by Ibiden and Robert Bosch Solar will be included in the 2011 December investment figures. So whilst the statement made by International Trade and Industry Deputy Minister Datuk Mukhriz Mahathir of a drop in investment compared to last year is correct, the final analysis can only be made when the December investment figure are tabulated.

In May 2011, the Penang State Government announced that Penang is targeting to achieve RM6.1 billion investments for 2011. Penang recorded its highest ever investment figures of RM 12.2 billion in 2010 topping the investment charts for the first time in history in Malaysia. A lower figure has been set to attract high value-added, high-tech, knowledge based companies that engender high-income, technology transfer and innovative industries.

Up to November 2011, Penang stood at RM6 billion in investments achieving the target of RM6.1 billion set. At the same time, there is a need to "digest" (consolidate) the record investments in 2010 so that the workers and skills shortage engendered does not overspill and damage the industry.

Penang hopes that the RM4 billion high-tech and solar energy investments by Ibiden and Robert Bosch Solar will be included into last year’s investment figures which will then put Penang’s investment at RM10 billion.

According to the recent report by investment and research firm Tholons on the 2012 Top 100 Outsourcing Destinations in the world, Penang has moved up 2 notches from 79 to 77 in ranking. The state government hopes to attract more of BPO and other preferred industries such medical, aerospace, LED and photovoltaic into Penang for 2012.

*Lim Guan Eng, Penang Chief Minister