Penang secures more than RM17b investments for first half of 2026
PENANG secured RM17.3 billion worth of investments into the manufacturing sector, accounting for 34 per cent of the national total for the first half of this year. Chief Minister Chow Kon Yeow told a press conference that the data released by the Mal...
Penang has attracted over RM17.3 billion in manufacturing sector investments during the first half of 2026, accounting for 34% of the national total, according to the Malaysian Investment Development Authority (Mida). Chief Minister Chow Kon Yeow revealed the figures at a press conference, stating that Penang consistently ranks among the top three to five contributors nationally over the years.
The substantial investments will bolster Penang's Artificial Intelligence (AI) capabilities and help the state capitalize on the expanding digital economy. The RM17.3 billion recorded from January to June marked a 38% increase from the same period last year. A significant portion of the investments, RM12.8 billion or 74%, originated from foreign direct investment (FDI), making Penang the leading contributor to Malaysia's manufacturing FDI, which constitutes 39% of the national total.
The majority of the investments, 88%, were concentrated in the Electrical and Electronics (E&E) and Machinery and Equipment (M&E) sectors. The approved investments will lead to the creation of 19,337 new job opportunities. Penang remains optimistic about continued growth, with a target to surpass last year's RM22.4 billion in approved manufacturing investments.
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