PENANG has decided to follow Selangor’s footsteps in establishing the country's second integrated circuit (IC) design and digital park.
Chief Minister, Chow Kon Yeow disclosed plans for the park, encompassing one million square feet (sq ft) of premium office space within a building at the Bayan Lepas Free Industrial Park.
Covering 105 acres within the industrial park, this project will be staged in two distinctive phases.
The first phase is currently underway, featuring the construction of two office buildings: Global Business Services (GBS) By The Sea and GBS TechSpace.
These structures, totalling 350,000 sq ft, represent an investment of RM347 million.
Completion for the first phase is scheduled by year end.
The park’s second phase introduces the establishment of another prominent structure, GBS TechnoPlex, at RM308 million.
This addition will contribute an extra 500,000 sq ft to the project by 2027, said Chow.
“The park will host high-impact initiatives spanning IC Design, research and development (R&D), global business services, digital technology investments, and a circular digital economy ecosystem," Chow told a media briefing here.
Present were former Penang chief minister Lim Guan Eng and State Secretary Datuk Rosli Isa.
Social amenities are also in order where up to 1,000 car parking bays will be erected.
Chow said that the state was now formulating an incentive package for strategic investors to tap the potential of the park.
“The incentives are designed to bolster Penang’s current investment ecosystem.
"This includes enriching the park with contemporary amenities such as safe pedestrian-friendly walkways, bicycle lanes, park-and-ride facilities, and designated areas for recreational activities.
"These enhancements are poised to fortify Penang’s standing as a premier investment destination," he said.
The IC design market is already being used by multinationals such as Intel, Motorola, AMD, Microchip, UST Global, Siemens, and Zebra.
The park will enhance their standing in the IC industry, he added.
“We anticipate unveiling four more prominent global investors soon,” he said.
Chow emphasised that the manufacturing and services sectors remain the state’s twin engines of growth, pointing out that both sectors contributed 95% of the state’s total revenue.
The state is witnessing the rise of third-party service providers, including IC designers and knowledge-based solutions firms, alongside the established players in Penang.
To bolster the promotion of the park, Chow also announced that the state would be offering subsidised rental rates for office spaces.
IC, also known as a microchip, is the next generation of chip hardware and it consists of small electronic devices made up of multiple interconnected electrical components such as transistors. - The Vibes, May 4, 2024.
