Penang’s investment growth lagging behind other states

Dato’ Eric See-To

The most recent propaganda from DAP says that Penang is growing under the Pakatan State Government.

This is what is says:

“Penang have recorded strong investment growth of 73% in the manufacturing sector over the 9 year period between 2008-2016 of RM 59 billion, compared to RM 34 billion for the previous 9 years period between 1999 to 2007.” – CM Lim Guan Eng.

However, what CM Lim Guan Eng forgot to tell you is this:

“The country as a whole recorded even stronger investment growth of 74.6% in the manufacturing sector between 2008 to 2016 of RM487 billion, compared to the RM285 billion for the previous 9 years period between 1999 to 2007.

This means that Penang’s investment growth has LAGGED the national average.” – BNSC.

It is very easy to throw figures to confuse the people and engage in gratuitous self-praise but it won’t stand up to scrutiny when the truth is revealed.

This is similar to DAP’s previous self-praise that their CAT efforts reduced their state debt by 95% that was later found out to be untrue as it was revealed that it was the Federal Govt that reduced that state debt via a water debt restructuring exercise.

Without this Federal Govt assistance, Penang’s debt would have grown to 300% of what it was instead of being reduced 95% as the Federal Govt also gave a grant of RM1.2 billion for a water project in Penang.

The reality is that Penang has not been number one in investment since the year 2011. Penang had dropped to 4th highest in 2016 and also 4th highest in 2015

The reality is that Penang has now lagged behind other states when it comes to investment.