GEORGE TOWN: Penang has welcomed the federal government's backing for its proposed Penang Technology Financial Centre (PTFC), saying the move would strengthen the state's technology ecosystem and support its push towards higher-value industries.
Chief Minister Chow Kon Yeow said the recognition was a positive development, particularly for the electrical and electronics (E&E) and semiconductor sectors.
He said the initiative would help Malaysia move towards a high-value, technology-driven economy while creating opportunities to strengthen local industries.
"The state government submitted the PTFC White Paper to the Finance Ministry on Sept 23, and plans to submit the PTFC Strategic Blueprint and PTFC Action Plan by November," he said.
