PENANG has reinforced its standing as Malaysia’s premier destination for technology investment and innovation, having recorded RM17.3 billion in approved manufacturing investments in 2024.
Chief Minister Chow Kon Yeow, announced the figures in his Labour Day message, highlighting a robust economic outlook supported by a thriving industrial base.
The total investment encompasses 182 projects and is expected to generate approximately 16,254 job opportunities across the state.
"Along with sustainable economic growth and encouraging investment performance, the labour market in Penang continues to strengthen, with the latest data from the Labour Force Survey for the fourth quarter of 2024 showing the state’s unemployment rate at 2.2 per cent," said Chow.
He added that Penang's labour force participation rate stood at 73.2 per cent, underscoring growing public confidence in the job market and encouraging more people to seek employment.
Penang’s stature as a strategic hub for international trade, especially in the electronics and semiconductor industries, has also continued to rise. These sectors, noted for their rapid expansion, remain central to the state's economic trajectory.
In recognition of Labour Day, Chow reaffirmed the state government’s commitment to safeguarding workers’ rights and well-being. He pledged ongoing support through inclusive policies, targeted skills development programmes, and the creation of high-value employment opportunities.
"The development of digital, green, and smart technology sectors will continue to be given priority so that workers remain relevant and competitive," he said.
He further urged employers to uphold fair and respectful relations with their employees, noting, "I also urge all employers to continue to maintain harmonious and fair relationships with their employees as the long-term success of an organisation depends not only on profits, but also on the well-being and happiness of its workforce." - May 1, 2025
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