GEORGE TOWN, March 11 — Some factories in Penang recently suspended their operations and downsized their workforce due to a restructuring exercise, Invest Penang said today.
Invest Penang director Datuk Seri Lee Kah Choon, who is also the special investment advisor to the chief minister, said the industries have to undergo restructuring due to slower global economic growth and demand.
“It is also due to business uncertainty due to the US-China trade war,” he said in a statement issued today.
He said Malaysia will benefit from the relocation of investment out of China but it will be negatively impacted if the global economy slows down and demand drops.
“The opportunity for Penang is reallocation of our talent from sectors that are being impacted to sectors that are growing,” he said.
He said there are many growing local and foreign companies that are recruiting new talents.
“They are working closely with Invest Penang in this recruitment initiative,” he said.
He said all job seekers can send their resume to Invest Penang’s CAT website at www.penangcatcentre.my.
“We will match them with suitable companies,” he said.
Earlier today, Gerakan president Datuk Dominic Lau reminded the government to focus on improving the economy as some Penang factories are downsizing and even shutting down.
“The state government should focus on improving the economy instead of playing politics,” he said.
