Challenging year for Penang

The state is encouraging small to mid-sized foreign companies to outsource jobs to local vendors or form joint-venture partnerships with local companies, says Lee.

PENANG, which recorded RM13.3bil in approved manufacturing investment up to September last year, is expecting a much more challenging year for 2020.

Datuk Seri Lee Kah Choon, who is the special investment adviser to the Chief Minister, said investments could dip this year due to fierce competition from Asean countries which had introduced various incentives in 2019.