LGE blame federal to cover-up unfulfill promise

In his first year as CM, Lim Guan Eng claimed credit for the rise in FDI for the year as due to his effort. Actually it is the effort of MITI for the simple reason that wooing FDI takes few years.

Since 2010 under his second tenure, he blames the Federal Government:

Penang Chief Minister Guan Eng Lim accused that Putrajaya has frozen the efforts of the Malaysian Investment Development Authority (MIDA) to draw and facilitate foreign investments to the state.

He said the agency had stopped introducing and recommending companies and has not responded to the state’s letters for support or follow up on potential investments.

Lim asked why Putrajaya was treating the state like a step-child.

“After all, if they (potential investors) don’t choose Penang, they are not going to another state. They are going to another country,” he told The Malaysian Insider.

“There is no communication. And then when we write to them, we don’t get any response,” he added.

MIDA has stopped introducing investors over the past year, Lim said.

According to the latest MIDA statistics, Penang received RM2.34 billion in foreign investments from January to May this year, behind Sarawak (RM7.45 billion), Pahang (RM4.2 billion), Kedah (RM4.1 billion) and Johor (RM4.08 billion).

Penang was top in investments in the year 2011 but investments into the state had plunged 73% the following year in 2012 where it dropped to 6th place among all states. 

In 2013, investments in Penang had still not recovered to 2011 levels and Penang was placed 4th place behind Johore, Selangor and Sarawak.

Lim said he does not blame Mida officers, adding that he knew they worked “under directive”.

He also questioned if Mida has even set a quota for Penang investments. He said the agency has always had a quota for every state to benchmark itself against.

“They must reach certain targets. What’s the target for Penang? I don’t think there is any target for Penang.

“We hope they can shed some light on this matter,” he said, adding that investments in the country were too important to be politicised.

Lim said the Penang government felt cut off and adrift, but was determined to work harder to bring about improvement and change for the people.

“Is Penang an orphan without any siblings?” he asked,

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Fairchild Semiconductor had closed shop. So does few other MNC electronic companies.

The signs were out there but LGE fail to see the trend as he focus himself on getting rich through properties.

Without economic activity backing the island state made expensive through unbridled property speculation, Guan Eng worry he could not fulfill the promise of prosperity to Penang Chinese.