GEORGE TOWN, August 8 – Penang continues to draw strong interest from international investors despite looming uncertainties over new US tariffs, Chief Minister Chow Kon Yeow said today. He noted that InvestPenang is actively engaging with parties from the US, China, Singapore, and beyond, including a major investment proposal discussed this morning involving multiple agencies.
Chow said Malaysia’s inclusion in the 19 per cent US tariff bracket — on par with other ASEAN countries — levels the playing field, but uncertainty remains as Washington mulls a potential 100 per cent tariff on imported semiconductor chips. While Penang’s chip exports currently remain exempt, Chow urged continued federal engagement to preserve this status.
He reaffirmed Penang’s commitment to strengthening its integrated circuit (IC) design ecosystem, highlighting RM191.4 billion in approved manufacturing investments and nearly 80,000 jobs created since 2020.
