Positive action to ensure Penang benefits from Budget 2020 — CM

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GEORGE TOWN (Oct 11): The Penang Government expressed gratitude to the Federal Government for several good news announced for the State during the tabling of Budget 2020 today.

Chief Minister Chow Kon Yeow said he will study the allocations and take positive action to ensure that Penang will truly benefit from the Budget.

“The Budget has provided several incentives to encourage foreign and local investments which will indirectly benefit the State, and thus create more job opportunities.

“The focus given on technical and vocational education and training is also apt and will help produce new talents to meet the demands in Penang,” he said in a statement here today.

He said several announcements in the 2020 Budget were seen capable of bringing about positive impact on the State's economic, technological and social development.

Chow said Penang would also benefit from 5G services through digital transformation announced in the Budget.

In addition, he said the standardisation of the toll rate on the Second Penang Bridge at RM7 compared with RM8.50 previously would also lure more users and reduce traffic congestion on the first bridge.

“The tourism sector can also be further developed with the proposed tax incentive for the tourism sector and the State Government also welcomes the allocation of RM100 million for the construction of new cable car system to Penang Hill,” he said.

Finance Minister Lim Guan Eng, when tabling the 2020 Budget in the Dewan Rakyat today, said the Government will contribute RM100 million towards the construction of the new cable car system, with any additional costs to be financed by the State Government.