GEORGE TOWN, April 23 — Penang has reaffirmed its position as a leading investment and technology hub in Malaysia, recording RM42.76 billion in realised investments and nearly 9,000 new jobs in 2024. This success, achieved through the collaboration of the Penang State Government, Northern Corridor Economic Region (NCER), and MIDA, signals strong economic momentum that has continued into 2025, with RM13.3 billion in investments and 3,000 new jobs recorded in Q1 alone.
Speaking at the Strategic Collaboration Ceremony for the NCER Technology Innovation Centre (NTIC) and NEST programme, Chief Minister YAB Chow Kon Yeow highlighted the State’s commitment to fostering innovation and entrepreneurship in line with the Penang2030 Vision. NTIC alone accounted for RM26.8 billion in investments and 900 jobs last year, while NEST helped increase local business sales by RM197 million.
NCIA CEO Mohamad Haris Kader Sultan emphasized NTIC’s role in industrial development through the Centre of Excellence, Advanced Technology Meister Programme, and Technology & Innovation initiatives. With continued support from stakeholders, Penang is poised to remain a regional leader in sustainable economic growth and innovation.
