Penang targets US expansion to cement status as global chip hub
GEORGE TOWN, Sept 28 — Penang is ramping up its efforts to attract fresh American capital and encourage existing U...
Penang is intensifying its efforts to lure fresh American investment and entice existing US corporations to expand their operations in the state. Chief Minister Chow Kon Yeow will spearhead a strategic trade mission to the United States, spanning from September 28th to October 5th. Hosted by InvestPenang, the mission focuses on rekindling relationships with corporate headquarters of American firms currently operating in Penang.
The aim is to spur growth at existing sites and draw in new investments, according to a statement from the Chief Minister's Office.
Chow will showcase Penang’s recent industrial milestones to US executives, emphasizing key projects like Penang Silicon Design @5km+ and the Penang ATE Campus. The discussions will also delve into upgrades to critical infrastructure and policy changes aimed at simplifying the investment process. The state is targeting high-growth sectors, including semiconductors, integrated circuit design, advanced packaging, equipment manufacturing, medical devices, and global business services.
The mission itinerary includes a roster of high-level meetings and site visits with corporate headquarters, offering a platform to exhibit Penang’s innovation and its long-term competitiveness as a premier investment destination. Chow voiced confidence in the mission, expressing his dedication to bolstering ties with American investors to secure concrete economic benefits for the state.
Written by urgent.news from Malay Mail's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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