{"id":39284,"date":"2023-03-16T09:30:08","date_gmt":"2023-03-16T01:30:08","guid":{"rendered":"https:\/\/investpenang.gov.my\/press-release-penangs-robust-industrial-ecosystem-continued-to-demonstrate-resilience-with-rm13-7b-approved-manufacturing-investments-in-2022\/"},"modified":"2025-11-28T13:49:50","modified_gmt":"2025-11-28T05:49:50","slug":"press-release-penangs-robust-industrial-ecosystem-continued-to-demonstrate-resilience-with-rm13-7b-approved-manufacturing-investments-in-2022","status":"publish","type":"post","link":"https:\/\/investpenang.gov.my\/zh-hans\/press-release-penangs-robust-industrial-ecosystem-continued-to-demonstrate-resilience-with-rm13-7b-approved-manufacturing-investments-in-2022\/","title":{"rendered":"[Press Release] Penang\u2019s Robust Industrial Ecosystem Continued to Demonstrate Resilience with RM13.7B Approved Manufacturing Investments in 2022"},"content":{"rendered":"

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[Press Release] Penang\u2019s Robust Industrial Ecosystem Continued to Demonstrate Resilience with RM13.7B Approved Manufacturing Investments in 2022<\/h1>\n

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15 March 2023<\/p>\n

[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row][vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”grid” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern” css=”.vc_custom_1703764846254{background-color: #f3f5f8 !important;}” z_index=””][vc_column el_class=”fade-in animate”][vc_empty_space height=”120px” el_class=”height-x120″][vc_row_inner row_type=”row” type=”grid” text_align=”left” css_animation=””][vc_column_inner][vc_single_image image=”30280″ img_size=”full” qode_css_animation=”” el_class=”single-featured-image”][\/vc_column_inner][\/vc_row_inner][vc_empty_space height=”60px” el_class=”height-x60″][vc_row_inner row_type=”row” type=”grid” text_align=”left” css_animation=”” el_class=”content-row”][vc_column_inner][vc_column_text]March 15, 2023<\/strong> \u2013 Having built a solid reputation after 50 years of industrial excellence, Penang continues to draw active participation from both new and existing investors. According to data from the Malaysian Investment Development Authority (MIDA), Penang clocked up RM13.7 billion in approved manufacturing investments in Jan-Dec 2022. The investment inflows in the said year involved 135 projects and are expected to generate 15,752 new job opportunities in the state.<\/p>\n

FDI accounted for RM9.7 billion or 71% of Penang\u2019s manufacturing investment inflows in 2022, while the remaining RM4.0 billion or 29% were domestic direct investments (DDI). Remarkable investment projects include foreign corporates like TF AMD, Boston Scientific, as well as homegrown companies like Greatech Integration and Inari Technology, amongst others. With a 16% share in Malaysia\u2019s approved manufacturing investments in 2022, Penang is the second highest contributor among all states.<\/p>\n

Total approved manufacturing investments in Penang were primarily driven by the state\u2019s key promoted industries, namely Electronics & Electrical, Machinery & Equipment, Scientific & Measuring Equipment (including medical devices) industries. Cumulatively, investments into these sectors accounted for 85% of Penang\u2019s total approved manufacturing investments in 2022, which is equivalent to 27% of Malaysia\u2019s investments in these three sectors. This demonstrated Penang\u2019s instrumental role in driving Malaysia\u2019s participation in the global supply chain in these areas.<\/p>\n

The Chief Minister of Penang, Right Honorable Mr. Chow Kon Yeow said: \u201cPenang stands out as a highly attractive investment destination with dynamic industries that are supported by a highly-qualified talent pool. The state\u2019s resilient economic performance underscores investors\u2019 sustained confidence in the state, and sets the stage for its development to greater heights. The state government continues to welcome strategic investments as we aspire to extend our position as a hub for advanced technology.\u201d<\/p>\n

\u201cThe Penang state government would like to express our deepest appreciation to the investors for their confidence in Penang, as well as to MIDA for a conducive and fruitful collaboration with InvestPenang in attracting strategic investments into the State.\u201d Chow added.<\/p>\n

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About InvestPenang <\/strong>
\nInvestPenang is the Penang State Government\u2019s principal agency for promotion of investment. Its objectives are to develop and sustain Penang\u2019s 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) and Penang CAT Center (for talent attraction and retention). For more information, please visit https:\/\/investpenang.gov.my\/<\/a> and follow InvestPenang\u2019s social media channels: Facebook<\/a> ; LinkedIn<\/a>.<\/p>\n

 <\/p>\n

For media enquiries, please contact:<\/u><\/strong>
\nYeoh Bit Kun\/ Ooi Phei Wen
\nbitkun@investpenang.gov.my\/ pheiwen@investpenang.gov.my
\nInvestPenang<\/p>\n

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16<\/h2>\n
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Thu<\/p>\n

March \u201823<\/p>\n<\/p><\/div>\n<\/p><\/div>\n","protected":false},"author":5119,"featured_media":30280,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[316],"tags":[],"news_year":[220],"news_month":[221],"local_insights_alphabet":[],"acf":[],"_links":{"self":[{"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/posts\/39284"}],"collection":[{"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/users\/5119"}],"replies":[{"embeddable":true,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/comments?post=39284"}],"version-history":[{"count":2,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/posts\/39284\/revisions"}],"predecessor-version":[{"id":39292,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/posts\/39284\/revisions\/39292"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/media\/30280"}],"wp:attachment":[{"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/media?parent=39284"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/categories?post=39284"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/tags?post=39284"},{"taxonomy":"news_year","embeddable":true,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/news_year?post=39284"},{"taxonomy":"news_month","embeddable":true,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/news_month?post=39284"},{"taxonomy":"local_insights_alphabet","embeddable":true,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/local_insights_alphabet?post=39284"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}