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PENANG is optimistic it can surpass last year's manufacturing investment figure of RM17.3 billion despite the global trade uncertainty brought on by the US tariffs.
Deputy Chief Minister II Jagdeep Singh Deo said that for the first quarter of this year, the state recorded up to RM6.7 billion in approved industrial investments.
"I understand it is more than last year. The way things are shaping up, we may even surpass last year's record. The next three quarters would be interesting to observe. Penang welcomes investments from all over in line with the state's stature as a hub for electronics and electrical (E & E) products."
Jagdeep said this at the grand opening of the LED leader - Dialight Penang Sdn Bhd upgraded facility at the Prai Industrial Park.
Among those present were Dialight chief executive officer Steve Blair, its chief operating officer Ridwan Ahmad, Dialight Penang director Dr Ilmaran Elangkathir, Dialight managing director / vice president for the Asia Pacific Malcom Lee, Dialight Asia managing director Mark Soh and its APAC finance director Yong Lim.
Jagdeep said that as global hub for semiconductors, Penang despite its relatively small size, produces six percent of the global market in E & E.
Now, the figure has risen to eight percent market share of the global semiconductors market, Jagdeep disclosed.
"We may be a small dot on the world map but we are a resilient group."
Jagdeep cited that many of the smartphone models have chips built in Penang.
The onus is on the state to continue to prove that it is an attractive investment destination despite the imposition of tariffs on its exports destinated to US.
"We need to be resilient on this matter. We will mitigate the losses, and we do not want any part in this (global) trade war as we believe in not meddling in the affairs of others. We want investors to see Penang as a place of choice," said Jagdeep.
Earlier, the Datuk Keramat assemblyman also opened the Vivax - Metrotech’s manufacturing facility in Batu Kawan where 175 high-skilled jobs were created.
Jagdeep emphasized the state’s commitment to attracting more investors over.
“The company’s decision to expand in Malaysia, and more specifically in Penang, was made after a comprehensive evaluation. This reflects our strengths as an investment destination, a skilled talent pool, a strong focus on innovation, and a strategic geographic location. Penang enjoys the presence of investors from all over the world and will continue to welcome more and facilitate what they need."
Vivax-Metrotech is a manufacturer for buried utility locating, fibre-optic cable locating, ferrous metal detection, and coating analysis. - August 12, 2025.
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