GEORGE TOWN, July 5 — Penang said today it has been receiving more inquiries directly from foreign investors, especially from Taiwan, due to the trade war between the United States and China.
Chief Minister Chow Kon Yeow said Taiwan investors are already among the top foreign business owners in Penang but there were many more opportunities for others from the far east country to set up shop here too.
“Taiwanese companies are among the top five investors in Penang so there are more opportunities for them to invest here in our manufacturing and electrical and electronics hub,” he said in a press conference at the launch of a Taiwan Expo 2019 here.
He said Taiwan is a powerhouse for the information, communication and technology (ICT) sector so the ICT opportunities here are also limitless.
He said the state will welcome Taiwanese investors from the services sector that encompasses the medical, wellness and pharmaceutical industries.
He said Penang has the infrastructure, supply chain support, logistics hub and talent pool to draw investors to the state.
“There is one enquiry we are working on, we are not sure if we are able to clinch this prospective investor so we hope to sign the deal with them,” he said.
The Taiwan Expo is one of the biggest platform for Taiwanese companies to interact with businesses in Malaysia.
The event was organised by Taiwan External Trade Development Council (TAITRA) and this is the 11th exhibition it has held in two years.
Chow said the exhibition is expected to record 250,000 visitors in the two-day event.
