It’s a valuable opportunity to showcase Penang's strengths, innovations, and commitment to being a resilient and sustainable investment location, Chow said.

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The government also outperformed its fiscal deficit target, achieving a reduction to 4.1% in 2024, down from 5% in the previous year, and better than the projec...

Upturn was primarily driven by the wholesale trade, finance and insurance, and manufacturing industries.

In 2023, he said Penang state secured RM60.1 billion in approved manufacturing investments, which represents 47 per cent of Malaysia’s total.

Development will include serviced apartments, retail outlets, a hotel, and other amenities such as educational facilities and a health and wellness hub.

Distributive trade growth forecast for Malaysia, projected for a 6.5% increase in 2025

Strong demand for air travel and strategic growth in capacity, achieving a high load factor of 89 percent, set the stage for the robust performance.

The decision to keep the retail prices unchanged follows a careful evaluation of current market conditions.

Key contributors to the services sector’s growth included the wholesale and retail trade, food and beverage (F&B) services, and accommodation segments.

US Federal Reserve Chairman Jerome Powell emphasised the central bank’s stance of not rushing into decisions regarding reducing policy rates.

Chief Minister Datuk Seri Hajiji Noor said the project will support economic expansion and drive investments in oil, gas, and energy industries.