GEORGE TOWN, April 26 – In a press statement yesterday, Penang Chief Minister YAB Tuan Chow Kon Yeow highlighted the state’s commitment to fostering the growth of the Integrated Circuit (IC) design sector. With a robust ecosystem comprising over 20 companies specializing in IC design, including major multinational corporations such as Intel, AMD, and Synopsys, Penang has emerged as a key player in the global semiconductor industry.
The Penang State government, through the Penang Development Corporation (PDC), is investing RM220 million in constructing two new Global Business Service (GBS) buildings, ‘GBS by the Sea’ and ‘GBS Tech Space.’ Anticipated for completion by Q4 of this year, these state-of-the-art facilities will offer office space and lab facilities to tenants, with incentives provided by MDEC under the Malaysia Digital scheme.
With a focus on diversifying its economic portfolio, Penang aims to position itself as a preferred investment destination, leveraging its expertise in high-tech manufacturing, AI, IoT, and GBS to drive future growth.
