Manufacturers set sights on Penang
The tropical, ethnic-Chinese-majority state of Penang is experiencing a growth spurt in manufacturing as a result of Japan’s devastating earthquake and Thailand’s floods last year.
The roiling effects to global supply chains caused by these natural disasters has caused global manufacturers to pinpoint the island as a favourable destination for relocating their Asia production bases, reported the Wall Street Journal.
The third largest economy of the 13 states in Malaysia, Penang – traditionally associated with the UNESCO architecture of its capital Georgetown – has also seen success in attracting a large number of foreign and domestic investors to its high-tech, services and tourism industries. That Penang is connected to Malaysia’s strong logistical network and has an international airport makes it an even more desirable destination for prospective businesses.
Besides manufacturing, which is an over $3 billion industry in Penang, Chief Minister Lim Guan Eng of Penang told Inside Investor earlier this year that the local government is placing its focus on “biotech, medical devices [and] aerospace, all obviously high-tech, value-adding and capital-intensive sectors.”
New businesses eying to open up manufacturing bases for everything from automobile parts to electronic components in Penang won’t be alone: Intel, Motorola, Sony, Dell, Honeywell, Bose Corporation, National Instruments, Agilent and others are already present.
Intel, one of the largest foreign employers in the state, has 4,000 engineers in their “campus”, a hub the company is using to groom intellectual capital and attract talent.
Foreign direct investment hit $2.7 billion the first quarter 2012, reported the Wall Street Journal, a 15 per cent increase from the previous year. With wages rising in China and Thailand, the trend is likely to continue creating traction for Malaysia.
[caption id="attachment_3892" align="alignleft" width="300"] US computer giant Dell is one of the multinational companies running a manufacturing base in Penang[/caption] The tropical, ethnic-Chinese-majority state of Penang is experiencing a growth spurt in manufacturing as a result of Japan’s devastating earthquake and Thailand’s floods last year. The roiling effects to global supply chains caused by these natural disasters has caused global manufacturers to pinpoint the island as a favourable destination for relocating their Asia production bases, reported the Wall Street Journal. The third largest economy of the 13 states in Malaysia, Penang - traditionally associated with the UNESCO architecture of its...
The tropical, ethnic-Chinese-majority state of Penang is experiencing a growth spurt in manufacturing as a result of Japan’s devastating earthquake and Thailand’s floods last year.
The roiling effects to global supply chains caused by these natural disasters has caused global manufacturers to pinpoint the island as a favourable destination for relocating their Asia production bases, reported the Wall Street Journal.
The third largest economy of the 13 states in Malaysia, Penang – traditionally associated with the UNESCO architecture of its capital Georgetown – has also seen success in attracting a large number of foreign and domestic investors to its high-tech, services and tourism industries. That Penang is connected to Malaysia’s strong logistical network and has an international airport makes it an even more desirable destination for prospective businesses.
Besides manufacturing, which is an over $3 billion industry in Penang, Chief Minister Lim Guan Eng of Penang told Inside Investor earlier this year that the local government is placing its focus on “biotech, medical devices [and] aerospace, all obviously high-tech, value-adding and capital-intensive sectors.”
New businesses eying to open up manufacturing bases for everything from automobile parts to electronic components in Penang won’t be alone: Intel, Motorola, Sony, Dell, Honeywell, Bose Corporation, National Instruments, Agilent and others are already present.
Intel, one of the largest foreign employers in the state, has 4,000 engineers in their “campus”, a hub the company is using to groom intellectual capital and attract talent.
Foreign direct investment hit $2.7 billion the first quarter 2012, reported the Wall Street Journal, a 15 per cent increase from the previous year. With wages rising in China and Thailand, the trend is likely to continue creating traction for Malaysia.
