RM4.2bil park catalyst for growth

(From left) Ideal Property Group’s chief operating officer Datuk Goh Teng Whoo, Zakiyuddin, Chow, Ooi, Dr Ramasamy, Bukit Tambun assemblyman Goh Choon Aik, Ideal Property Group executive director Puan Sri Joanne Phor and Zhou at the groundbreaking ceremony in Kepala Batas. — LIM BENG TATT/The Star

A NEW RM4.2bil technology park focused on high-technology industries is set to become a catalyst for economic growth in the region, especially Penang mainland, says Penang Chief Minister Chow Kon Yeow.

He said the Ideal Property Group’s Penang Technology Park@Bertam would be completed in two years.

“I am hopeful that the 356ha park will help uphold the state’s competitive edge that aligns with our focus, which is to optimise our resources to harness its full potential for investors,” Chow said after the park’s groundbreaking ceremony in Jalan Tun Hamdan Sheikh Tahir, Kepala Batas.

He said that despite facing a shortage of land for industrial purposes two years ago, the Penang Technology Park@Bertam would now provide the state with “enough land to last for the next five years.”

“It will also help Penang maintain its position as the country’s economic powerhouse.

“We topped the nation’s list in 2021 with an export value of RM354bil and this persisted into last year with a 27% increase to reach an all-time high of RM452bil.

“On the investment front, Penang is also among the top contributors for the country with RM14bil in approved manufacturing investments, and this represented 16% of the country’s total for last year,” he said.

Ideal Property Group executive chairman Tan Sri Alex Ooi, in his opening speech, said the park would mainly house companies from the electrical and electronic products industry.

“We already have inquiries from countries like China, the United States, Europe and Taiwan about the park which is the group’s latest project aimed at creating a dynamic hub for talent, innovation and technology.

“The park will also help to transform Bertam into the next satellite city for Penang and make it the ideal place to live, work, play and thrive,” he said.

Also present at the ceremony were Deputy Chief Minister I Datuk Ahmad Zakiyuddin Abdul Rahman, Deputy Chief Minister II Dr P. Ramasamy, Penang trade, industry, and entrepreneurial development committee chairman Datuk Abdul Halim Hussain, Seberang Perai mayor Datuk Azhar Arshad, Chow’s special investment adviser Datuk Seri Lee Kah Choon, InvestPenang chief executive officer Datuk Loo Lee Lian and consul-general of China in Penang Zhou Youbin.

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