Wednesday, August 24, 2011

Press Statement by Penang Gerakan Economy & SME Bureau Chairman Michael Heah

Two types of investment, says Heah

Press Statement by Penang Gerakan Economy & SME Bureau Chairman Michael Heah

Aug 24, 2011

A Penang Gerakan leader has urged InvestPenang executive committee chairman Lee Kah Choon to concentrate on his portfolio to bring investments to Penang for the benefit of the people.

Penang Gerakan economy and small and medium-scale enterprises bureau chairman, Michael Heah, said Lee should spend more time improving on his network to reach to more foreign investors, with the aim of attracting them to come to Penang.

“Don’t sleep on your job and wake up trying to pick up quarrels with people. You are paid with public money and you should repay your gratitude with good results and achievements,” said Heah in a statement.

Heah said Lee should know that there are two types of investment, namely new and reinvestment, as far as Penang is concerned.

He said for reinvestment, a firm decision can be made faster, especially when the existing company is already in operation in Penang for many years. The company knows the level of infrastructure available, transportation facilities, availability of supply chain and sub-contractors, experienced and high skilled human resources. So, the company does not have to take a long time to decide to reinvest in Penang.

“However, all these important factors cannot be built overnight and they are being built over a period of time during Barisan Nasional's government previously,” said Heah.

As for the new investment, Heah said, the boss of any prospective company would take a longer time before deciding to put the company’s footing on Penang shore. Faced with other competing countries like China and Vietnam, the company has to consider so many other factors besides those that have been mentioned above, including the geographical location of Penang and Malaysia, political stability, government incentives, culture and language. This is time consuming and it usually take years before a firm decision can be made.
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