Penang has recorded approximately RM15.78 billion in investments for the current year as of September, according to Chief Minister Chow Kon Yeow. He provided this update during a state legislative assembly session, referencing data from the Malaysian Investment Development Authority. He also reported substantial export values, with RM411.1 billion exported via the Penang International Airport and RM60.8 billion through the Penang port for the full year of 2024.
Chow Kon Yeow reiterated the state's persistent request for the federal government to return twenty percent of tax revenue collected from Penang. He stated that he has raised this issue repeatedly in parliamentary debates and through official questions. The Chief Minister expressed that the federal-state revenue-sharing model requires a review and proposed establishing a special commission to study a more equitable system for all states. He also expressed confidence that the state's financial position would improve by 2026 or 2027.
Chow Kon Yeow reiterated the state's persistent request for the federal government to return twenty percent of tax revenue collected from Penang. He stated that he has raised this issue repeatedly in parliamentary debates and through official questions. The Chief Minister expressed that the federal-state revenue-sharing model requires a review and proposed establishing a special commission to study a more equitable system for all states. He also expressed confidence that the state's financial position would improve by 2026 or 2027.
