Penang Government Focuses on High-Value Investments and Digital Economy to Reduce Federal Dependency

The Penang government is prioritizing high-value investments, particularly in the digital economy and advanced semiconductor industries, as part of a strategy to reduce dependence on federal funds. Chief Minister Chow Kon Yeow outlined plans to enhance revenue through improved tourism products, including medical tourism, and by optimizing land use via the Penang Development Corporation.

Short-term measures include digitizing public services and collections, along with periodic reviews of fees and charges. Long-term strategies focus on developing competitive sectors and implementing fiscal governance reforms like zero-based budgeting and centralized performance monitoring to enhance accountability and revenue generation.