GEORGE TOWN, May 17 – The Penang state government has detailed the key components of its planned White Paper and Strategic Action Plan for the Penang International Financial Centre (PIFC).
Focusing on governance, incentives, infrastructure, human capital and market specialisation. The plan aims to position the state as a competitive financial hub within the ASEAN region.
In a separate briefing, the government highlighted Penang’s strong economic performance, with RM63.96 billion in approved investments in 2025 and RM291.68 billion in total trade recorded in early 2026.Officials said the state remains resilient amid global uncertainties, supported by strong exports, low unemployment and continued growth in high-tech industries such as semiconductors and E&E.
