Penang, Jun 24, 2022 – Penang’s approved manufacturing investments hit a record high of RM76.2 billion, surged 440% year-on-year. Penang’s 2021 record significantly outpaced the past performances, exceeded the cumulative investments garnered from 2012 to 2020 (RM73.1 billion). According to the data from the Malaysian Investment Development Authority (MIDA), Penang’s investment inflows in 2021 involved 111 projects, which is estimated to create 12,024 job opportunities.

With the strong influx of strategic investments into Penang, a healthy talent pipeline development is critical to meet the heightened industrial demand. The State has carried out multi-pronged approaches in talent attraction and development, continuously bolstering Penang’s welcoming and conducive environment for talent, aiming to position Penang as the destination of choice for career development.

As a support to the local companies on talent development program, Penang Internship Subsidy Programme (PISP) was launched in 18 February 2022, offering qualified companies for monthly allowance subsidy amounting to RM300 per intern for a maximum period of six months when companies recruit talent throughout 2022.

In an award presentation ceremony today, Dato’ Seri Lee Kah Choon, the special investment advisor to the Chief Minister of Penang announced a total of 111 internship placements have been awarded to nine local companies who are qualified for the first batch of PISP, namely:

• Ann Joo Steel Berhad
• CG Solutions Enterprise Sdn. Bhd.
• Greatech Integration (M) Sdn. Bhd.
• Inari Technology Sdn. Bhd.
• Infinecs System Sdn. Bhd.
• Operion Ecommerce & Software Sdn. Bhd.
• Skyechip Sdn. Bhd.
• UWC Industrial Sdn. Bhd.
• ViTrox Corporation Berhad

Recognizing that talent is the most valuable asset, Penang aspires to attract 150,000 knowledge workers over the next 5 years. The State government remains committed to deepening and broadening Penang’s talent pool through a variety of initiatives that are critical to attracting strategic investments.

Celebrating the 50th anniversary of Penang’s industrialisation this year, it is envisaged that Penang’s five decades of sustained excellence have laid the groundwork for the State to unlock limitless potential. Talent pool is a key competitive edge that the State values and will continue to uphold.

To all the Penang homegrown companies, PISP application can still made online via www.penangcatcentre.my and the closing date is 31 December 2022.

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About InvestPenang
InvestPenang is the Penang State Government’s principal agency for 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 realize its objectives, InvestPenang also runs initiatives like the SMART Penang Center (providing assistance to SMEs), Penang CAT Center (for talent attraction and retention) and i4.0 seed fund (a catalyst for the startup ecosystem). For more information, please visit https://investpenang.gov.my/ and follow InvestPenang’s social media channels: Facebook ; LinkedIn.

For media enquiries, please contact:
Hawani Adnan / Chin Sook Cheng
hawani@investpenang.gov.my/ sookcheng@investpenang.gov.my
InvestPenang