{"id":39604,"date":"2022-01-10T13:48:36","date_gmt":"2022-01-10T05:48:36","guid":{"rendered":"https:\/\/investpenang.gov.my\/investpenang-investors-remain-confident-of-penangs-ability-to-navigate-past-the-pandemic\/"},"modified":"2025-11-28T14:32:12","modified_gmt":"2025-11-28T06:32:12","slug":"investpenang-investors-remain-confident-of-penangs-ability-to-navigate-past-the-pandemic","status":"publish","type":"post","link":"https:\/\/investpenang.gov.my\/zh-hans\/investpenang-investors-remain-confident-of-penangs-ability-to-navigate-past-the-pandemic\/","title":{"rendered":"InvestPenang: Investors Remain Confident of Penang\u2019s Ability to Navigate Past the Pandemic"},"content":{"rendered":"

[vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern” el_class=”sec-inner-banner” css=”.vc_custom_1703741584745{background-image: url(https:\/\/investpenang.gov.my\/wp-content\/uploads\/2023\/12\/contact-banner-bg.jpg?id=20253) !important;}” z_index=””][vc_column][vc_row_inner row_type=”row” type=”grid” text_align=”left” css_animation=”” el_class=”inner-banner-row”][vc_column_inner][vc_column_text]<\/p>\n

InvestPenang: Investors Remain Confident of Penang\u2019s Ability to Navigate Past the Pandemic<\/h1>\n

[\/vc_column_text][vc_separator type=”normal” el_class=”red-separator” color=”#ee4023″ transparency=”1″ thickness=”2″ up=”15″ down=”15″][vc_column_text css=”” el_class=”white-text”]<\/p>\n

9 January 2022<\/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=”29612″ 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]Jan 9 – Penang\u2019s approved manufacturing investment for 2021 was expected to exceed the state\u2019s all-time high of RM17 billion recorded in 2019, despite being clouded by the repercussions of the pandemic as investors remain confident of the state\u2019s ability to navigate the crisis.<\/p>\n

InvestPenang chief executive officer\u00a0Datuk Loo Lee Lian said approved manufacturing investments for 2021 initially underperformed that of 2020, recording RM2.9 billion investment inflows for January-September 2021. However, Intel\u2019s RM30 billion expansion has certainly added more excitement to the state last year.<\/p>\n

She said Penang garnered a significant project from Intel, which was announced on Dec 17 last year, involving a new production facility at the Free Trade Zone Phase 3, Bayan Lepas Industrial Park, which would\u00a0definitely drive the state to new heights.<\/p>\n

\u201cAccording to the NCER Investment Commitment Ceremony 2021, Intel contributes about 10 per cent of Malaysia\u2019s total electrical and electronics (E&E) exports annually. In 2020, E&E represented 39 per cent of the country\u2019s RM984 billion total exports,\u201d she told Bernama.<\/p>\n

Being one of the eight pioneer investors that sparked the development of a robust ecosystem of ancillary industries in Penang, Intel\u2019s 50-year presence in Penang has brought far-reaching effects on the local economy in terms of supply chain localisation opportunities, uplifting the skillset of the local technical workforce\u00a0as well as having significant economic spill-over and multiplier effect, she said.<\/p>\n

MNCs deepening their roots in Penang<\/strong><\/p>\n

She said it was also encouraging to see a growing number of multinational corporations\u00a0(MNCs) establishing strong linkages with the domestic economy and further deepen their roots here, further anchoring Penang\u2019s position as the Silicon Valley of the East and a testament to the state\u2019s robust industrial ecosystem, well-developed infrastructure, skilled workforce as well as liveability stature.<\/p>\n

\u201cThese companies have also diversified their operating activities here, moving towards research and development (R&D), design and development (D&D) and other high value-added functions,\u201d she said.<\/p>\n

With almost half a century of industrial experience, Penang has successfully cultivated a strong industrial experience and manufacturing excellence for homegrown companies to gain traction in the global supply chain, she said.<\/p>\n

Loo said that aside from the manufacturing-related functions, the state is seeing an emerging layer of young, fast-growing local E&E companies that are making names for themselves as upstream solution providers in the E&E value chain.<\/p>\n

\u201cThese companies provide services that are crucial in the conceptualisation and product design stages. Examples are Oppstar, Experior, Skyechip, Infinecs Systems,\u201d she said.<\/p>\n

2022 a consolidation phase for Penang<\/strong><\/p>\n

Moving forward, InvestPenang expects Penang to undergo a\u00a0consolidation phase in manufacturing investments\u00a0in line with the state\u2019s historical investment trend where a brief consolidation would take place after a couple of years of investment upticks\u00a0before the growth trend resumes.<\/p>\n

\u201cIn fact, we were expecting 2021 to be a consolidation year after the stellar performance in 2019-2020. The recent investment announcements have pushed our expectation to 2022. It is important for Penang to enter into a consolidation stage as the labour market as well as infrastructure need time to react upon the surge in these new investments and operations.<\/p>\n

\u201cWe are hopeful that a few strategic investments could be concluded in 2022. However, it is almost impossible to see another large-scale project which is equivalent or\u00a0close to Intel\u2019s recently announced investment value,\u201d she added.<\/p>\n

Source: Malay Mail<\/a>[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_empty_space height=”120px” el_class=”height-x120″][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

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10<\/h2>\n
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Mon<\/p>\n

January \u201822<\/p>\n<\/p><\/div>\n<\/p><\/div>\n","protected":false},"author":5119,"featured_media":29612,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[316],"tags":[],"news_year":[219],"news_month":[199],"local_insights_alphabet":[],"acf":[],"_links":{"self":[{"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/posts\/39604"}],"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=39604"}],"version-history":[{"count":2,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/posts\/39604\/revisions"}],"predecessor-version":[{"id":39620,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/posts\/39604\/revisions\/39620"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/media\/29612"}],"wp:attachment":[{"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/media?parent=39604"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/categories?post=39604"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/tags?post=39604"},{"taxonomy":"news_year","embeddable":true,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/news_year?post=39604"},{"taxonomy":"news_month","embeddable":true,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/news_month?post=39604"},{"taxonomy":"local_insights_alphabet","embeddable":true,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/local_insights_alphabet?post=39604"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}