GEORGE TOWN, May 12 -- The Penang government it focusing on high-value investments, tourism, the digital economy and new economic sectors as part of a long-term strategy to reduce dependence on the federal government.

Penang Chief Minister Chow Kon Yeow said the state's short-term approach focuses on strengthening existing investment sectors by facilitating approval processes and optimising industrial land use through agencies such as the Penang Development Corporation (PDC).

He said the strategy would enable the state to generate direct revenue through land premiums, rentals and related economic activities.

"In the tourism sector, focus is on improving existing products such as heritage, gastronomic and medical tourism and the state w...