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Penang may see more interest from Hong Kong investors

August 21st, 2019 Leave a comment

gurney drive reclamation

The current unrest and chaos in Hong Kong may create more business and property sale opportunities in Penang, says Chief Minister Chow Kon Yeow.

He said Penang had always been a destination for investment, tourism and business.

“In light of the problems in Hong Kong, we may see more businesses moving into Penang.

“It is still too early to say whether there will be relocation of some Hong Kong-based businesses to Penang.

“However, it has been reported that there is increased interest from Hong Kong for property in Malaysia, including Penang.

“I understand people in Hong Kong may be concerned over their future due to the unrest in recent weeks.

“Penang is always a preferred destination for many foreign investors and property buyers.

“I am sure our private sector including the property market will do the needful to attract them,” he said at a press conference at his office in Komtar recently.

Chow was responding to a question raised by the media about the possibility of businesses from Hong Kong moving to Penang in the long-term.

The demonstrations in Hong Kong against a controversial extradition bill began more than 10 weeks ago

It has since evolved into wider concerns about democracy in the semi-autonomous Chinese territory.

Mass sit-ins at the airport have led to the cancellation of hundreds of flights.

Source: TheStar.com.my

 

Categories: Property News Tags:
  1. Internation
    August 21st, 2019 at 12:55 | #1

    引狼入室?

  2. GuruPika
    August 23rd, 2019 at 13:09 | #2

    “I am sure our private sector including the property market will do the needful to attract them,” he said at a press conference at his office in Komtar recently.“ This statement is such a contradiction to gov policy that imposes tax + limits to foreign buyers to discourage them from buying properties.

    So the big question is – does our state gov “welcome” or “do not welcome” foreign property buying? Or is it just a case in which the state gov simply has no idea on how to encourage foreign investment while still protecting local people’s interest?? If you don’t know how, please ask people who know.

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