GEORGE TOWN, Oct 16 — The United States remains one of Penang’s largest trade partners, with total exports to the US reaching RM79 billion in the first eight months of this year.
Penang Chief Minister Chow Kon Yeow said this highlighted the importance of the long-established trade and investment relationship between Penang and the US.
“Today, around 120 American companies operate in Penang, contributing not just capital and jobs, but also technology, innovation, and community development,” he said in his speech at the Amcham Penang Dialogue 2025: Recalibrating Malaysia at Iconic Marjorie Hotel here.
He added that in the first half of 2025, Penang attracted RM2.6 billion in approved US manufacturing FDI, accounting for 81 per cent of total US manufacturing FDI in Malaysia.
Among the investors is Altera Semiconductor Technology, which committed RM1 billion to manufacture FPGAs and integrated circuits.
Chow said Penang has continued to strengthen its position in design, R&D, and innovation with the launch of the Penang Silicon Design @5KM+ initiative.
The initiative consists of three main components: the Penang IC Design and Digital Park, the Penang Chip Design Academy, and the Penang Silicon Research and Incubation Space.
“I’m pleased to share that we’ve already seen encouraging progress,” he said.
The GBS By The Sea building now houses AMD’s new engineering facility, and two local incubatees, Silicon X and SkyeChip, are developing their own proprietary chip technologies.
“If all goes well, we’ll soon be able to celebrate Malaysia’s very first ‘Made in Malaysia’ chip, designed and engineered right here in Penang,” he said.
