Malaysia's Investment 'Sweet Spot,' Penang to Open New Tech Park

Written By Aizat Sultan

Nikkei Asia | 4 December 2024

State chief wants to foster 'ecosystem for innovation' as supply chains shift.

A view of Penang's state capital, George Town: The state has long been known as Malaysia's "Silicon Island." (Getty Images)

PENANG, Malaysia -- Long known as a "Silicon Island" for its manufacturing prowess, the northern Malaysian state of Penang is now sharpening its focus in an effort to dominate high-value technology sectors, including semiconductors and medical equipment, as global supply chain shifts create new opportunities.

The local government recently unveiled its Silicon Design @5km+ initiative to position Penang as a global hub for integrated circuit (IC) design and digital innovation. The state hopes to create an ecosystem within a five-kilometer-plus radius of its Bayan Lepas Free Industrial Zone.

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