Penang to focus on construction industry

Penang in Malaysia is moving to step up efficiency in approvals of development plans in a bid to keep the state’s economy afloat through the construction industry after national statistics showed plunging demand for the manufacturing sector.

“The construction sector showed the highest growth amongst all sectors, as it recorded a 15.4% growth in 2012 and 14.7% growth for the first quarter of this year,” Penang Chief Minister Lim Guan Eng.

Penang will also turn to developing its tourism and services sectors which accounts for more than 30% of the state’s GDP.

“We are not going to sit still and keep quiet so we have to be proactive and look at developing the construction and services sectors to spur the state’s economy,” he said.

Lim said some non-governmental organisations (NGO) may protest against the focus on construction industry but the state government is not going back down to those who have their own “vested interest” but to concentrate on economic growth for the state.