Penang recorded the highest foreign direct investment (FDI) in Malaysia of RM2.3 billion as at 30 April 2011 far exceeding other states. Penang recorded a total of RM3.24 billion, leaping from No. 4 in March to No. 2 in April.
The increase of RM1.4 billion in one month from RM1.8 billion in March 2011 is the second good news for Penang following the announcement by Robert Bosch Solar in June of its intention to invest RM2.2 billion to set up a third generation solar plant for photovoltaic production.
It was another milestone for Penang in obtaining the first fully integrated crystalline photovoltaic (PV) facility in the country. The competition for Bosch’s investment was intense as Penang had to compete with potential sites within and outside Malaysia, including manufacturing superpowers like China.
“I was informed that Bosch Solar Energy initially explored and analysed 45 sites in 23 countries. In Malaysia itself, Bosch evaluated over 10 sites,” Chief Minister Lim Guan Eng said. -The Rocket