Penang BN ‘hatches’ practical framework to enhance state’s economy

KUALA LUMPUR: The Barisan Nasional ( BN) has ‘ hatched’ a practical framework for Penang in a bid to strengthen the island state’s economy if the coalition comes to power in the imminent 13th general election.

Penang BN chairman Teng Chang Yeow said the framework will be the State BN’s ‘ minimanifesto’ to serve Penangites’ needs and requirements for their well-being.

He said the framework embodies three key challenges that need to be addressed amicably.

The challenges are diversifying the state’s economy, strengthening social development and implementing comprehensive development for the state, he said.

“Our policy is to further strengthen the state’s economy. We want to migrate from merely relying on the manufacturing sector which mainly focuses on the electronics industry.

“We want to create another engine of growth, the services industry, to further spur the state’s economy,” he told Bernama after being interviewed on Bernama TV’s ‘ Hello Malaysia’ talkshow.

The interview entitled ‘Pearl of the Orient: Challenges and Hopes’ was aired over Bernama TV at 10pm last night.

Teng, however, said the new economic growth engine would not substitute the current manufacturing sector, but would help diversify the state’s economy to be more vibrant and resilient in fending off trials and tribulations in the economic and financial sectors.

“Under the services sector, we will give emphasis to physical development, tourism, finance, medical and education to strengthen the sector which will create vast job opportunities than the manufacturing sector.

“This is because Penang’s manufacturing sector has entered the high technology phase where the manpower requirement will be lesser and lesser when we shift to the application of even higher technologies,” he said.

On spiralling property prices on the island, Teng attributed the steep rise in house prices to the premium charges imposed by the state government.

Property prices, while on the increase in urban areas, still remain at an affordable range in the outskirts such as on the mainland.

Property prices in the state are known to be phenomenally high.

“On the social development aspect, we need sufficient affordable homes to amicably solve the people’s housing woes. The majority of Penangites can ill- afford to own a house ( because of the high price),” Teng said.

Recently, Prime Minister Datuk Seri Najib Tun Razak offered to build 20,000 units of affordable homes in a move to ease the housing needs of Penangites and a monorail service to tackle traffic congestion on Penang Island if the BN was mandated by the people to form the state government after the soon-to-be-held general election. — Bernama