GEORGE TOWN, Nov 20 — The Penang government has participated in 11 investment missions abroad from 2018 to September, said Chief Minister Chow Kon Yeow.

He said that, overall, the level of confidence shown by foreign investors towards Penang is encouraging.

"Penang remains the main investment destination and the main base for global investors to expand their businesses, either in the manufacturing or service sectors.

"Investors also continue to have faith in investing in Penang because the government leadership always focused on strengthening the state’s economic development and retaining Penang’s reputation as a stable investment destination,” he said at the Penang State Legislative Assembly sitting here today.

He said this when replying to a question from A. Kumaresan (PKR-Batu Uban) about the state government’s participation in foreign investment missions.

Elaborating, Chow said among the state government’s participation were the Medan Exhibition in Indonesia as well as the working visits by the Penang delegation to Dubai, Taiwan the United States, Armenia, Turkiye, Poland and the Netherlands.

He said the state government’s joint participation with InvestPenang at the Medan Exhibition in 2018, 2019 and this year led to the signing of memoranda of understanding (MoU) between Al-Haddad Malaysia and Al-Haddad Marketing Indonesia.

He added that the Penang delegation’s visit to Dubai in 2019 led to the signing of MoUs between the Penang International Halal Hub (PIHH), Dubai IAirport Free Trade Zone Authority (DAFZA) and the Halal Trade and Marketing Centre (HTMC) to promote the halal industry. — Bernama