Penang, Malaysia: An Editorial Profile -- Site Selection magazine, September 2006

Penang: Silicon Island in Resort Setting

Dr. KOH Tsu Koon, Chief Minister of the State of Penang, Malaysia

   Since 1972, Penang has successfully undergone a remarkable economic transformation from a small regional trading port into a global high- tech industrial centre. This development has been generated by the influx of foreign direct investments (FDIs) in the electronics and ICT industry from the United States, Germany, Japan and Taiwan.
   Industrial employers value the overall cost- competitiveness of our business environment and the skills of our well- educated workforce which are at par with those of developed nations. With the steady and smooth transfer of technology, we have nurtured local industrialists to become successful suppliers, able to design and manufacture quality components, parts and products for transnational corporations (TNCs) and the global market. This strong supply base has made it viable for the TNCs to continue to re- invest in Penang, and attractive for new investors to keep coming to Penang.
   Local manufacturers in Penang have moved on to higher value- added hi- tech products and activities such as research, design & development, business marketing, shared services and business process outsourcing.
   Penang has successfully carved out and deepened special technological niche areas, with strong comparative advantages, such as precision engineering, automation equipment, process design and engineering, etc. New areas are being rapidly developed, such as RF technology, software applications, etc.
   Leveraging on these capabilities, Penang has also become an attractive site for medical devices and instruments in the form of whole products or parts and components. We have also made forays into the bio- pharmaceutical industry, starting with contract research and manufacturing, clinical trials and life sciences research through the universities.
   An island resort famous for its luxuriant rainforest hills and beautiful beaches, Penang offers comfortable, quality living environment with excellent housing, world- class recreational and sports facilities, good healthcare and medical facilities as well as excellent international schools for expatriate children. Penang is also noted for the rich and colourful diversity of cultures, architectures and delicious fusion cuisines.
   Visit us and see for yourself what Penang can offer you.
Penang – the Silicon Island in Resort Setting.