GEORGE TOWN: Undivided support from all Penangites, the state government and all elected representatives including the opposition is needed to secure the federal government's approval for a Special Financial Zone (SFZ) in Penang.
DAP national chairman and Bagan member of parliament Lim Guan Eng said his proposal of a SFZ for Penang, which he made in Parliament on Sept 13, was based on it possessing all the critical competitive and comparative advantages of an industrial state, which also happens to be the nation's largest exporter.
Lim said Penang achieved critical mass with a mature manufacturing industry base, which would drive development and boost the growth of the services sector, not only in the northern region but for the whole country as well.
He said the cost of doing business in a SFZ would be more affordable, with management costs not too high for sectors such as for tourism, education and health.
He added that incentives in a SFZ include a special income tax rate of 15 per cent for skilled workers and multiple entry visas for foreign expertise.
"A SFZ in Penang will help to boost investment, growth and economic activities and bring Penang to the next level of economic development.
"The success of securing a SFZ for Penang will hinge not only requiring similar support from the state government but also undivided support from all elected representatives, including the opposition.
"As elected representatives, we must all put aside partisan politics and personal interests for the sake of a more sustainable and brighter future for Penang," he said today.
Elaborating, Lim said there had been an overwhelming response from Penangites, with both the Chinese Chamber of Commerce and Indian Chamber of Commerce, coming fully on board to support a SFZ for Penang.
He said Johor Menteri Besar Datuk Onn Hafiz Ghazi was both effusive and enthusiastic about a SFZ for Johor even likening the growth prospects of Johor Baru to flourish as another Shenzhen in China.
On Sept 13, Lim had proposed in Parliament for the setting up of a SFZ in Penang just like the one in Forest City.
Penang Chief Minister Chow Kon Yeow had subsequently said the state government had no information on the proposal to create a SFZ in Penang for the northern region which may be similar to the one in Forest City.