Penang's 2 Mega Projects Shelved

When Federal Government shelved 2 mega projects for Penang, the PORR (Penang Outer Ring Road) & Monorail; I was thinking this would definitely affecting Penang’s economy growth. Not only that, but also accommodate to the global recession as well.

What makes me commenting that? Well, we had long lunch today with some friends, and got to know from their point of view about the State Government.

With the 2 projects being shelved and State Government do not have the fund in contributing to such mega projects that will woo away lots of foreign investors. First, we can’t compete with other countries like China, Vietnam, Laos, etc for cheaper labour. Neither can we compete with our neighbour Singapore in terms of incentives. When there was a crisis in 1997, Singapore Government immediately changes their policy as well as giving more incentives to the investors in investing to their country. Look at them now, you will see financial consulting, biotech, biochem, hi-tech companies are investing their other nest down there. But what about us in Penang??

With these few Multi-national companies, how many more could be given the job opportunities to the people here? Bear in mind, the jobs here do not offer to only Penangites, but also other states like Ipohan, Kedahan, Kelantanese and so on.

I’ve read an article before, manufacturing in Penang States contribute a major percentage in our country’s revenue. If they do not treasure this golden egg, honestly, one of these days they will lose this shine.

Not to say anything far, just think back in year 1997 crisis, or the later 2000 internet bubble burst. Were there couple of Multi-national moved out from Penang? If the State & the Federal is not working hand-in-hand to save the country but to focus on other petty petty stuff, am sure the Rakyat will suffer.

Cuz, we are not able to compete with the neighbouring countries. Right?

I have not studied Economy before, thus I don’t quite sure how the economy works. But, if our country could help to deflate the current inflation (which they claimed it’s only 5%), perhaps many of us would go thru such hard time. If our currency is strong, perhaps we could be like our neighbouring country, Singapore.

But do you notice, whenever we want to travel overseas, we ought to think twice, as our currency is so small compare to country like Singapore, US, Europe, Aussie, Kiwi, etc. If, Malaysia Ringgit could strengthen a bit more, perhaps, things would change.