GEORGE TOWN, May 6 -- The establishment of an Invest Malaysia Facilitation Centre (IMFC) in Penang will encourage domestically driven investments, said Penang Chief Minister Chow Kon Yeow.

He said this is especially crucial during this period of global economic uncertainty.

In welcoming the recent announcement by the prime minister that IMFC will also be established in Penang, he said it is a strategic move that can strengthen Malaysia's position as a regional investment destination.

"It also presents an opportunity for Penang to align its own initiatives, particularly the Penang International Financial Centre (PIFC), to ensure cohesive and complementary growth," he told Malay Mail in a brief response to the announcement.

He said the ...