Source TheStar
KUALA LUMPUR: Invest-in-Penang Bhd (InvestPenang), a Penang state government investment promotion agency, is keen to attract investors from India in information technology (IT), high-end technology as well as heavy metal industry.
Chairman Datuk Lee Kah Choon said currently, investments from India were more in joint-venture partnerships with local parties.
“India is one of the potential sources of investments we are looking at.
“So far, the amount of investment is still small,” he told Bernama at the Indian Engineering Exhibition 2008 yesterday.
Lee said besides India, Penang was eyeing investments from other countries such as South Korea, Japan, Taiwan, Hong Kong and the Middle East.
He said traditionally, foreign direct investments to Penang came from the US and Europe.
To boost investments in Penang, Lee said InvestPenang would also encourage re-investments by existing foreign investors.
“It is important for InvestPenang to continue engaging foreign investors, especially those who have invested heavily in the state,” he said.
To make Penang more marketable, the state will also provide IT infrastructure such as wireless fidelity and worldwide interoperability for microwave access.
“There are also efforts to secure more direct flights into Penang to boost investments,” he said.
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