GEORGE TOWN, September 26 – Penang Chief Minister Chow Kon Yeow announced that the state has attracted RM411.8 million in approved manufacturing investments from China in the first half of 2024. Currently, 53 Chinese companies operate in Penang, with the majority engaged in manufacturing, reinforcing a strong trade and investment relationship with China.
Chow highlighted that over the past decade, Penang secured RM13.2 billion in manufacturing investments from China, representing 6.8% of the state’s total foreign direct investments. Additionally, Penang has seen a sharp rise in Chinese tourist arrivals, with 74,891 visitors in the first eight months of 2024, reflecting the deepening ties between both regions.
