GEORGE TOWN: Penang is set to become a catalyst for Malaysia to move up the chip value chain and solidify its position as the preferred investment des...
: Penang is set to become a catalyst for Malaysia to move up the chip value chain and solidify its position as the preferred investment destination for electrical and electronics and semiconductor production in the region, said Chief Minister Chow Kon Yeow.
Chow noted that Penang, dubbed the “Silicon Valley of the East”, has always championed back-end chipmaking processes within the country and the region while the state has consistently played a pivotal role in contributing to Malaysia’s annual gross domestic product growth. “Therefore, local tech startups that hone skills in integrated circuit design and research and development are capable of pushing Malaysia further up the value chain,” the chief minister said in a Facebook post today.
Chow, who is also the state Finance, Economic Development, Land and Communications Committee chairman, pointed out that Penang’s growth trajectory looks promising with Penang International Airport expansion and Silicon Island in the pipeline.
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