Summary
- Federal government recognises Penang’s proposed Technology Finance Centre.
- Initiative aims to strengthen semiconductor and electronics industries.
- PwC to submit strategic blueprint and action plan by November.
GEORGE TOWN, October 31 — Penang’s proposed International Financial Centre, now renamed the Penang Technology Finance Centre (PTFC), has received federal recognition under Budget 2027.
Chief Minister Chow Kon Yeow told the State Legislative Assembly that the federal government had identified Penang as a national technology finance hub.
The state submitted its White Paper to the Finance Ministry on September 23, outlining the proposed initiative. PwC Malaysia is expected to deliver a strategic blueprint and action plan by November 2026.
Focusing on implementation strategies to strengthen Penang’s electronics, electrical and semiconductor industries.
