{"id":40903,"date":"2019-12-03T16:15:04","date_gmt":"2019-12-03T08:15:04","guid":{"rendered":"https:\/\/investpenang.gov.my\/press-release-penang-recorded-rm13-3-billion-of-total-approved-manufacturing-investment-in-jan-sep-2019\/"},"modified":"2025-12-02T17:13:11","modified_gmt":"2025-12-02T09:13:11","slug":"press-release-penang-recorded-rm13-3-billion-of-total-approved-manufacturing-investment-in-jan-sep-2019","status":"publish","type":"post","link":"https:\/\/investpenang.gov.my\/zh-hans\/press-release-penang-recorded-rm13-3-billion-of-total-approved-manufacturing-investment-in-jan-sep-2019\/","title":{"rendered":"[Press Release] Penang Recorded RM13.3 Billion of Total Approved Manufacturing Investment in Jan-Sep 2019"},"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

[Press Release] Penang Recorded RM13.3 Billion of Total Approved Manufacturing Investment in Jan-Sep 2019<\/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

3 December 2019<\/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=”29362″ 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]Penang attracted RM13.3 billion of total approved manufacturing investment in Jan-Sep 2019, up 247% year-on-year and has surpassed 2018\u2019s full year amount of RM5.8 billion. Penang contributed 23% of Malaysia\u2019s total manufacturing investment in Jan-Sep 2019, which is the second highest among the states.\u00a0<\/strong><\/p>\n

Penang, December 3, 2019<\/strong> \u2013 Penang continues to record robust approved manufacturing investment inflows, and remained a favourable investment destination. According to MIDA, in Jan to Sep 2019 (9M2019), Penang successfully garnered 113 manufacturing projects amounting to RM13.3billion (+247% year-on-year), representing 23% of Malaysia\u2019s total approved manufacturing investment. Penang\u2019s achievement of RM13.3 billion in 9M2019 was 100% above its 10-year annual average of RM6.6 billion and it has already surpassed (more than double) 2018\u2019s full year investment amount of RM5.8 billion. In addition, 9M2019\u2019s total approved manufacturing investments are expected to create 15,013 new job opportunities in Penang.<\/p>\n

Notably, Penang state is one of the key contributors to Malaysia\u2019s foreign direct investment (FDI). In 9M2019, Penang attracted RM12.0 billion of manufacturing FDI (+445% year-on-year), representing 31% of Malaysia\u2019s total manufacturing FDI. Top FDI were from United States, Singapore, and United Kingdom. Remarkable investments in Penang included projects from Micron Technology, Jabil Circuit, Smith+Nephew among others.<\/p>\n

In a press conference today, the Right Honorable Chow Kon Yeow, the Chief Minister of Penang, said that: \u201cThe Jan- Sep 2019 approved manufacturing results of RM13.3 billion has surpassed the full-year target of RM10 billion, which was announced earlier this year. The optimal combinations of well-established ecosystem, strong talent pool, good infrastructure, accumulated experience in industrialization, and the State\u2019s strong support services to investors makes Penang a preferred destination for investments\u201d. Chow shared that Penang continues to strengthen its position as a destination of choice for investors, despite rising global macroeconomic uncertainties, including the prevailing US-China trade war which has taken place for about 18 months. Penang is still in the radar of investors as corporates strategise to diversify their manufacturing geographical footprint, and supply chain base.<\/p>\n

\u201cI wish to also record the State\u2019s appreciation to the Federal Government, especially the Ministry of Finance, Ministry of International Trade and Industries, and MIDA for the professionalism and tremendous working relationship in ensuring efficient investment facilitation,\u201d Chow added.<\/p>\n

Chow is cautiously optimistic on the near-term outlook with the continued challenging global environment, but maintained that Penang will continue to position itself as a preferred destination for investment. \u201cThrough state agencies like InvestPenang and Penang Development Corporation, the State government will continue to focus on bringing in high quality, high technology investment – with high value jobs that suit the State\u2019s industry profile\u201d Chow said.<\/p>\n

END<\/strong><\/p>\n

About InvestPenang
\n<\/strong>InvestPenang 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 injecting business activities in the State through foreign and local investments including the spawning of viable new growth centres. To support the realization of its objectives, InvestPenang also runs initiatives like SMART Centre (to assist SMEs), Penang CAT Centre (to assist talents) and @CAT Penang (to assist start-ups).<\/p>\n

For media enquiries, please contact:
\n<\/u><\/strong>Yeoh Bit Kun\/ Lee Siu Ming
\nbitkun@investpenang.gov.my\/<\/a> siuming@investpenang.gov.my<\/a>
\nInvestPenang[\/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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