{"id":40948,"date":"2019-05-17T09:02:08","date_gmt":"2019-05-17T01:02:08","guid":{"rendered":"https:\/\/investpenang.gov.my\/penang-attracts\/"},"modified":"2025-12-02T17:16:52","modified_gmt":"2025-12-02T09:16:52","slug":"penang-attracts","status":"publish","type":"post","link":"https:\/\/investpenang.gov.my\/zh-hans\/penang-attracts\/","title":{"rendered":"Penang Attracts Rm129.1 Billion Worth of Approved Investments in the Manufacturing Sector as At 2018"},"content":{"rendered":"

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Penang Attracts Rm129.1 Billion Worth of Approved Investments in the Manufacturing Sector as At 2018<\/h1>\n

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16 May 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=”28969″ 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]16 May 2019, Kuala Lumpur \u2013 Penang has consistently ranked among the top investment destinations in the country over the last five decades. As of 2018, MIDA approved a total of 4,084 manufacturing projects with investments worth RM129.1 billion for Penang. These projects have created over 516,600 job opportunities, mainly in electrical and electronics products, basic metal products, scientific and measuring equipment, machinery and equipment and transport equipment. Approved foreign investments in the manufacturing sector totalled RM90.4 billion, accounting for 70 per cent of total investments approved for the State, while domestic investments assuming the remaining 30 per cent or RM 38.7 billion. Last year alone, a total of 108 manufacturing projects to be located in Penang worth RM5.8 billion were approved by MIDA.<\/p>\n

\u201cSince the arrival of the eight pioneer foreign companies also known as the ‘8 Samurais’ in Penang, in the 1970s, the state continues to have a strong presence of MNCs and Large Local Corporations (LLCs). Companies such as WD Media (Malaysia), Intel Technology, Jabil Circuits, B Braun Medical Industries, Osram Opto Semiconductor, HP Malaysia, Vitrox Technologies, Inari Group, Southern Steel, and DSEM System Technology hold much promise for business collaborations and opportunities,\u201d said Mr Arham Abdul Rahman, Deputy Chief Executive Officer (DCEO) of MIDA during the MIDA Invest Series: Unfolding States\u2019 Business Potential held yesterday at the MIDA Headquarters.<\/p>\n

The Invest Series event which highlighted the comparative and competitive advantages of investing in Penang featured a presentation by YBhg. Dato\u2019 Seri Lee Kah Choon, Special Investment Advisor to Chief Minister of Penang. The event attracted over 250 participants ranging from embassies, business chambers and associations as well as industry players from the services and manufacturing sector.<\/p>\n

During the event, Mr. Arham also highlighted the programmes introduced by the Ministry of International Trade and Industry as follows:<\/p>\n