GEORGE TOWN, June 23 — Penang recorded RM6.7 billion in approved manufacturing investments for the first quarter of 2025, accounting for 22 per cent of Malaysia’s total and ranking it second among all states.
Penang Chief Minister Chow Kon Yeow said the investment decisions were made last year, before uncertainties arose over US tariffs.
“We are still uncertain whether the tariff announcement will impact the second quarter or the second half of the year, or the whole of 2025,” he told a press conference at his office today.
Despite the uncertainty, Chow said InvestPenang continues to receive monthly enquiries from foreign investors.
“We are still sifting through enquiries and hope these enquiries will bring results when the investors have completed their due diligence,” he said.
“Based on these enquiries, we are still receiving strong interest from various countries.”
He said 90 per cent of the approved Q1 investments – RM6.1 billion – came from foreign sources.
Of the 36 approved projects, 79 per cent were in the electrical and electronics sector, and 15 per cent in machinery and equipment.
“These investments... are expected to create 4,577 new jobs opportunities, further strengthening Penang’s position as an economic powerhouse,” Chow said.
The top three sources of foreign investment were the United States (RM2.4 billion), Hong Kong (RM1.3 billion), and Taiwan (RM1.1 billion).
Chow added that Penang is pushing into high-value areas such as integrated circuit design, advanced packaging, and precision equipment manufacturing.
“We are also nurturing emerging sectors including medical technology and global business services to ensure broader, more sustainable growth,” he said.
