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PENANG, 23 February 2025 – Penang Chief Minister the Right Honorable Mr Chow Kon Yeow, together with InvestPenang team, concluded a six-day investment promotion mission to Japan, which took place from 16 to 22 February.

During the six-day trip, the Chief Minister and InvestPenang team met with 15 corporations and engaged in discussions on future investment and collaborations. In the first three days, they visited existing and potential investors in Tokyo and Kyoto, namely Toray, Advantest, Pentax Medical, Renesas, Kobelco, Panac, Japan Lifeline, Canon Electronics, Iwata, Towa, Kyocera, and muRata. The delegates then travelled to Kumamoto for the remaining two days, where they visited Meistier Corp., Preceed Corp. and Hirata Corp.

The meeting discussions focused on several topics key to Penang’s industrial growth. These include enhancing Penang-Japan connectivity to strengthen trade and investment linkages; ensuring a steady pipeline of skilled talent to support the evolving industry landscape; advancing infrastructure projects such as transportation and utilities to meet the demands of expanding businesses; addressing global supply chain shifts and the rise of AI, which are driving higher demand for Japanese-made equipment and ESG adoption.

On top of the meetings, InvestPenang also participated as an exhibitor at the Kumamoto Industrial Revitalisation Expo on 20 and 21 February. During the event, InvestPenang was invited to present Penang’s investment opportunities, showcasing the state’s offerings, strategic initiatives, and thriving industrial landscape as a premier investment destination.

Separately, Penang Chief Minister and InvestPenang delegates paid a courtesy visit to the Governor of Kumamoto Prefecture. During the meeting, Penang Chief Minister the Right Honorable Mr Chow Kon Yeow and His Excellency Mr Takashi Kimura exchanged views on the semiconductor industry and explored potential collaboration opportunities to enhance industry resilience and long-term growth for both regions. As Japan’s “Silicon Valley”, Kumamoto’s semiconductor industry recently enjoyed exponential growth with the establishment of TSMC’s new fab.

This investment promotion mission to Japan reaffirms Penang’s commitment to fostering strong economic ties with Japanese investors while positioning the state as a key hub for high-tech industries. Through strategic engagements, industry-focused initiatives and infrastructure development, Penang continues to strengthen its industrial ecosystem to attract quality investments.

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About InvestPenang
InvestPenang is the Penang State Government’s principal agency for the promotion of investment. Its objectives are to develop and sustain Penang’s economy by enhancing and continuously supporting business activities in the State through foreign and local investments, including spawning viable new growth centers. To realise its objectives, InvestPenang also runs initiatives like the SMART Penang Center (providing assistance to SMEs), Penang CAT Center (for talent attraction and retention), and Global Business Services (GBS) Focus Group (promoting and developing digital economy) and Penang Silicon Design @5km+ (establishing a unique and interconnected ecosystem for IC design and technology enterprises). For more information, please visit https://investpenang.gov.my/ and follow InvestPenang’s social media channels: Facebook; LinkedIn; WhatsApp Channel and TikTok.

For media enquiries, please contact:
InvestPenang
Elaine Cheah / Ong Yih Hwa
elaine@investpenang.gov.my / yihhwa@investpenang.gov.my
+604-646 8833