Industrial development in Penang state will only be by Penang Development Corp

Penang News, George Town: Penang Development Corporation (PDC) will be the only agency responsible for developing industrial parks in the state, the Chief Minister, Chow Kon Yeow, announced in the state assembly. He added that these projects would not be given to the private sector.

Chow, who is also the chairman of PDC, was responding to an oral question from Lim Guan Eng (PH-Air Putih) who had asked for a list of land PDC had given to the private sector to be developed as industrial parks.

Chow clarified that PDC’s industrial land banks are strategically located and can be marketed to investors in promoted industries. However, there was collaboration on such development as in the case of developing part of Batu Kawan Industrial Park 2 (BKIP2) to reduce the risks and cost of PDC.

He explained that the issue was that the land was located in a non-conducive surrounding and PDC needed to work with others to develop the park.

Chow assured that PDC has over 50 years of experience in the development of successful industrial parks in the state. He emphasized that PDC would continue to develop industrial parks that would draw domestic and foreign investors, especially those lands in strategic locations without involving the private sector.

He added that PDC would collaborate with the private sector for high-risk and less competitive areas as PDC has a track record of successfully developing nine industrial parks in the state to ensure a sustainable industrial ecosystem.