The Penang state government is expecting 10,073 jobs to be created through foreign direct investments (FDIs) received within the first quarter of this year (Q1 2019).

Chief Minister Chow Kon Yeow said that Penang received RM8.5 billion in FDIs in Q1 2019 - about 42 percent of Malaysia’s total FDI within the period.

“The FDIs prove that Penang is still a preferred destination for high-quality investment,” he said at the unveiling of InvestPenang’s new logo here tonight.

InvestPenang is the Penang state government’s investment promotion agency, which aims to develop and sustain the state’s economy by enhancing and continuously injecting business activities through foreign and local investments.

Also present were Local and International Trade, Consumer Affairs and Entrepreneurship Development state exco Abdul Halim Hussain, special advisor to the Penang Chief Minister Lee Kah Choon, and InvestPenang chief executive officer Loo Lee Lian.

- Bernama