Penang's 13.3 billion manufacturing investment 2nd highest among states

Amid challenging times, including the US-China trade war, Penang has recorded RM13.3 billion of total approved manufacturing investment in the period of Jan-Sep 2019.

According to Chief Minister Chow Kon Yeow, the figure is based on the Malaysian Investment Development Authority (Mida)’s latest announcement.

At a press conference today, Chow said this is an increase of 247 percent year-on-year, surpassing 2018’s full year amount of RM5.8 billion.

Chow said Penang contributed 23 percent of Malaysia’s total manufacturing investment during the period, while its total approved manufacturing investment of RM13.3 billion is the second highest among the states...