Intel commits to RM70 bil investment in M’sia over 10 years

DAVOS – Intel has committed to investing RM70 billion over the next 10 years to expand its operations in Penang and Kulim, Kedah.

“This investment is expected to create more than 4,000 jobs at Intel and also over 5,000 jobs in the construction sector,” said International Trade and Industry Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz. 

“I welcome the commitment by Intel and such cooperation will be continued with other companies in an effort to increase investments in Malaysia,” he said after a meeting with Intel chief global operation officer Kevyan Esfarjani, here.

Intel is the world’s largest semiconductor producer and was among the pioneers in the electrical and electronics industry in Malaysia, which began operations in 1972.

The minister also had a meeting with Procter & Gamble (P&G) president for Asia Pacific, the Middle East, and Africa, Suranjan Magesvaran, and P&G Asia Pacific, Middle East and Africa vice-president for global government relations and public policy, Cecilia Tan.

“P&G is also making a commitment to invest more in Malaysia. We also discussed opportunities in Malaysia,” Tengku Zafrul said. – Bernama, January 19, 2023