THE manufacturing sector had always defined the state of Penang. Now, the Penang state government wants to be less dependent on it, and has its eyes on the tourism sector.

Chief Minister Lim Guan Eng announced that the state government is planning to have its tourism sector contribute 50% of the state's Gross Domestic Product (GDP) by 2020. Currently, the tourism sector accounts for 39% of the GDP, while the manufacturing sector makes up 52%.

“We want to see a more balanced economic structure for the state so as to be less vulnerable to the vicissitudes of the global business cycles," said Lim. Read here.

Lim says he still wants manufacturing to remain a big contributor to the state, but its services sector must be improved and nurtured. "We model ourselves after California where although it is a hub for high-technology industries, its economy is tourism-driven,” he said. Read here.

Other news

• Foreign giants keen on RM8bil Penang infrastructure jobs: Several foreign giants apart from China's Beijing Urban Construction Group (BUCG), namely Citic Group of China, South Korea's SK Group, as well as couple of Japanese conglomerates and one Singapore company have expressed interest to bid for some RM8bil worth of infrastructure jobs in Penang. Read here.
• Record number of participants for 'heritage' Penang Starwalk: A record of about 20,000 participants were flagged off Sunday morning from the century-old Birch House at Penang Times Square on Datuk Keramat Road for the Penang Starwalk 2011. Read here.
• CM concerned over suggestion to penalise Penang Blackberry investor: Penang Chief Minister Lim Guan Eng today expressed concern over an Indonesian agency’s suggestion that its government penalise the maker of Blackberry smart-phones for manufacturing the device in Malaysia and not in Indonesia. Read here.
• Saving the grand mansion: Sunday Star revisits the historical Suffolk House in Penang which took seven years to restore. Read here.
• Penang-India ties: The other side of the island’s history. Read here.

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