SEBERANG PERAI, April 21 – In Seberang Perai, Penang Chief Minister Chow Kon Yeow lauded the impressive realisation rates of investments in the region, with between 85 per cent and 90 per cent of announced investments being successfully realised within a brief timeframe. Speaking at the opening ceremony of LEM Malaysia’s inaugural facility at Penang Science Park, Chow highlighted the resilience of Penang’s supply chain, a factor greatly benefiting investors and new multinational companies (MNCs) establishing themselves in the area.
Underlining the essential role of MNCs like LEM in bolstering the local supply chain, Chow reiterated the manufacturing sector’s pivotal role in propelling Penang’s economic growth. With the state securing RM63.4 billion in approved manufacturing investments last year, topping the national list, and the electronics and electrical products sector attracting RM54.7 billion, Penang solidifies its position as a leader in industrial development. Chow reaffirmed Penang’s dedication to fostering an environment conducive to advanced manufacturing, aiming to attract companies committed to pioneering cutting-edge technologies and sustainable practices, ensuring the region remains at the forefront of innovation and industrial growth.
