GEORGE TOWN, April 29 – Chief Minister Chow Kon Yeow announced Penang’s collaboration with the federal government to enhance efforts in attracting investment in the semiconductor sector, particularly in integrated circuit (IC) design. Emphasizing the comprehensive nature of the semiconductor field, Chow highlighted ongoing initiatives to bolster Penang’s ecosystem and supply chain to accommodate various sub-sectors within the industry, including ICs.
He revealed plans for Penang to evaluate its role within the Semiconductor Strategic Plan, set to be unveiled in May by the Federal Government, aiming to align the state’s efforts with national objectives while capitalizing on its robust semiconductor ecosystem. Chow’s statements came in response to former Finance Minister Lim Guan Eng’s proposal for Penang to emulate Selangor’s success in establishing the Malaysia Semiconductor Accelerator and IC Design Park.
Additionally, three new semiconductor companies have expressed interest in investing US$100 million (RM476 million) in Penang, underscoring the state’s appeal as a semiconductor investment destination. Meanwhile, addressing the issue of water tariffs, Chow clarified that any adjustments depend on approval from the National Water Services Commission (SPAN), citing the need for periodic reviews to prevent steep tariff increases.
