GEORGE TOWN, June 21 — Penang Chief Minister Chow Kon Yeow officially launched the Penang Industrial Masterplan 2030 today, setting the course for a smart, sustainable, and competitive industrial future.
The initiative, spearheaded by PLAN Malaysia Pulau Pinang with PDC and InvestPenang as key partners, aims to elevate Penang’s global positioning in the electrical and electronics (E&E) sector, expand high-value manufacturing, and align with the state’s Penang2030 vision.
Chow emphasised that the Masterplan is not just timely amid global uncertainties but essential to ensuring Penang remains relevant as the “Silicon Valley of the East.” Chow highlighted Penang’s impressive growth trajectory, noting that the state has RM13 billion in approved investments this year alone, including significant brownfield reinvestments and digital economy initiatives.
He addressed concerns over industrial land shortages, stating that Penang currently has 2,000 acres of industrial land in various stages of readiness, sufficient to meet demand for the next 10 to 15 years. With only about 100 acres taken up annually, Chow stressed that new and existing investors—particularly those from China—often prefer repurposed or leased factories to expedite operations, proving that land availability is not a current barrier.
Beyond land development, Chow reaffirmed Penang’s commitment to human capital and technological readiness. He pointed to initiatives like the Penang STEM Talent Masterplan and the advancement of Batu Kawan Industrial Park 3, which aim to cultivate a highly skilled, future-ready workforce.
He also praised private-sector projects like Penang Technology Park @ Bertam and Northern TechValley @ BKE for supporting holistic economic growth in Seberang Perai, which now accounts for 88.7% of the state’s industrial zones. In closing, Chow reiterated the importance of cross-sector collaboration to realise the ambitions of the Penang Industrial Masterplan 2030.
“This masterplan is not merely a roadmap—it’s a commitment to transform Penang into a resilient, high-income, and innovation-driven economy,” he said. With major infrastructure projects such as the Penang International Airport expansion and emerging smart-tech hubs, Penang is poised to lead Malaysia’s industrial evolution well into the next decade.
