GEORGE TOWN: Penang’s recent slide to sixth position in the country with a 73% decrease in total investments last year is proof of Chief Minister Lim Guan Eng‘s inability to woo investors here, said state Barisan Nasional Youth wing head Oh Tong Keong.
“The only reason Penang topped the list back in 2010 was because of the previous state government’s efforts,” said Oh.
He added that it had taken between three and four years to see the positive results from attracting investors.
“Now that it has been about five years since the DAP-led state government took over, the results and figures are speaking for themselves,” he added.
He said Lim’s time was spent more on arguing about politics with his foes rather than focusing on the macro economy needs through the creation of more quality jobs, overcoming traffic woes and building affordable housing.
“Investment is a big issue for Penangites as foreign direct investments (FDI) is one of the main factors to drive the economic engine here,” he said.
A Malaysian Industrial Development Authority report stated that Penang suffered “a drastic drop” in total investments from RM9.11bil in 2011 to only RM2.47bil last year.
The state came in first in 2010, with investments that amounted to RM12.24bil.
Penang Barisan publicity bureau chief Tan Cheng Liang said Lim was only good at claiming credit.
“When Penang topped the list in 2010, he claimed credit for the work Barisan had initially done. Now that his own results are showing, he is keeping quiet,” she said.
“He has not done much to help Penang. Jobs are decreasing while property prices are increasing. The rakyat is unhappy,” she said.
Independent Nibong Tebal MP Tan Tee Beng said Lim’s tendency to behave more like a “street-fighter” than a technocrat probably scared potential investors away.
“When the state is lead by a quarrelsome group, investors are afraid their investments may not grow if our leaders are often embroiled in both internal or external squabbles.”