GEORGE TOWN: Penang recorded RM1.85 billion in approved manufacturing investments from China in the first half of this year.
Chief Minister Chow Kon Yeow said this accounts for nearly 15% of the state’s total RM12.54 billion in manufacturing investments during the period.
Twelve China-linked projects are expected to create approximately 1,532 new job opportunities.
The strong momentum underscores growing investor confidence in Penang’s industrial ecosystem, with around 65 Chinese companies already operating in the state.
In 2024, China was Penang’s second-largest trading partner, contributing 15.6% of the state’s total exports.
A key milestone this year is the groundbreaking of INV New Material Technology (M) Sdn Bhd’s first plant in Malaysia, located in Penang Technology Park, Bertam.
The RM6.4 billion investment will significantly boost Malaysia’s electric vehicle ecosystem while generating hundreds of high-skilled jobs.
Chinese tourist arrivals through Penang International Airport have surged by more than 200% from 37,000 in 2023 to approximately 120,000 in 2024.
Educational partnerships such as Chinese Government Scholarships and sister-school programmes have broadened language learning and nurtured cultural understanding.
These young people, enriched by travel and study, will carry cooperation beyond trade statistics into shared innovation and lifelong friendships.
Earlier this year, the chief minister led a Penang delegation to Shandong, where they signed a memorandum of understanding to enhance government-to-government ties.
The delegation also engaged with Chinese enterprises in green energy, construction machinery, and logistics.
Acting Consul-General of China in Penang Ding Qiao said the Penang delegation’s participation had sparked a new wave of local exchanges between China and Malaysia.
Economic and trade cooperation between the four states of Northern Malaysia and China continues to deepen.
The launch of a direct flight route from Chengdu to Penang also facilitates exchanges between the people of the two places. – Bernama
