The eight-chapter book was titled 'From Free Port to Modern Economy: Economic Development and Social Change in Penang, 1969 to 1990' was launched by the Penang Institute here today.
Penang Institute executive director Datuk Dr Ooi Kee Beng said that the book provided information and illustrations of the two decades which saw Penang undergoing the industrialisation process to emerge as the Silicon Valley of the East. "Most importantly, it tells us a lot about the man on the book cover and the role he played in the modern history that cannot be underestimated," he said in his speech at the launch of the book.
He said Lim's administration played a huge part in turning the state's economy around with the introduction of the Penang Development Corporation and the Free Trade Zone, which is now the catalyst to the state's growth.Chief Minister Chow Kon Yeow, who launched the book, said it provided the steps as well as details involving the innovativeness and strategic boldness needed to pull Penang out from the bad times it found itself in the 1960s.
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