Tech investments, jobs grow in Penang - MIDA | Malaysian Investment Development Authority
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Tech investments, jobs grow in Penang

Tech investments, jobs grow in Penang

04 Apr 2024

RM13.67bil worth of ventures clinched last year set to generate 14,000 employment opportunities

PENANG secured RM13.67bil in investments and created more than 14,000 job opportunities last year through a joint effort between the Federal Government and the Northern Corridor Implementation Authority (NCIA).

Penang Chief Minister Chow Kon Yeow said NCIA played a key role in facilitating investments, thus supporting investment growth.

He believes programmes such as Northern Corridor Economic Region (NCER) Technology Innovation Centre (NTIC), which is designed to bolster the industrial ecosystem and nurture talent, will strengthen Penang’s position as a regional technology and innovation hub.

He thanked investors for their trust in the region’s long-term prospects.

“Penang is also well-positioned to attract foreign investors, given its investment-friendly atmosphere,” he said as reported by Buletin Mutiara during a certificate presentation ceremony to five companies involved in the NTIC Centre of Excellence (CoE) programme.

The five companies honoured were GF Technology Sdn Bhd, Elliance Sdn Bhd, IME Technology Sdn Bhd, Visionlytics Sdn Bhd and Easy Park Machinery Sdn Bhd.

NCIA chief executive officer Mohamad Haris Kader Sultan said the NTIC building in Bayan Lepas was expected to be completed by mid-2024.

At another event, Chow said Penang remained steadfast in upgrading its infrastructure to attract more investments.

He said the plans included addressing traffic congestion, expanding the Penang International Airport (PIA), implement the Light Rail Transit (LRT) railway project and expediting the Perak-Penang Water Scheme.

He added that the state would work closely with various stakeholders, including the Penang Foundry and Engineering Industries Association (PENFEIA).

“We strive our best to address the concerns raised by them.

“We hope to provide an ideal business ecosystem for stakeholders to ensure Penang prospers further,” said Chow during the PENFEIA 22nd New Committee and Advisors Board swearing-in ceremony held at a hotel in Bukit Mertajam.

He thanked PENFEIA for contributing to the state’s growth and for its role as a bridge between government agencies and manufacturers.

“Penang has always been one of the top three states in Malaysia in terms of economic prowess, growth and investment attraction.

“The manufacturing sector, being the backbone of the country’s and state’s economies, stands out as one of the leading contributors,” he said.

PENFEIA president Datuk Richard Teh said he looked forward to the Penang LRT project and affirmed the industry’s commitment to supporting the state.

Source: The Star