Penang, 23 April 2025 – In response to the reciprocal tariff announced by the U.S. administration earlier this month, InvestPenang convened two closed-door roundtable discussions with over 30 industry leaders from diverse sectors, including the semiconductor and Electronics and Electrical (E&E) industries.

The objective was to assess the potential business impact and identify the support needed from the government in light of the reciprocal and sectorial tariffs expected to come into effect in the coming months.

The sessions were attended by YAB Chow Kon Yeow, Chief Minister of Penang; YB Steven Sim Chee Keong, Minister of Human Resources; YB Liew Chin Tong, Deputy Minister of Investment, Trade and Industry and Dato’ Loo Lee Lian, CEO of InvestPenang.

Insights gathered from these sessions were shared with the Ministry of Investment, Trade and Industry (MITI) and the Ministry of Human Resources.

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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 / Arief Ferdaus Azmi
elaine@investpenang.gov.my / arief@investpenang.gov.my 
+604-646 8833