No IC design park, no problem: Kon Yeow says high-tech companies set to announce investments in Penang

26 Apr 2024

High-tech companies that have shown an interest in Selangor’s integrated circuit (IC) design park are also in discussions to invest in Penang, said Penang Chief Minister Chow Kon Yeow.

The lawmaker said the companies will be in Penang tomorrow to discuss investments in the state.

“The same group of people who went to Selangor are talking to Penang as well and tomorrow they will be here to announce a few investments,” he told reporters here after launching the Northern International Audio and Visual Show Penang here.

He said Penang may not have an IC design park but that doesn’t mean there are no IC design companies here.

“We do have IC design companies in Penang, maybe spread out across different locations, not in a specific IC design park,” he said.

He said not having a park does not mean high-tech IC design companies will not invest in Penang.

He was responding to criticisms by his predecessor Lim Guan Eng and former deputy chief minister II P. Ramasamy that Penang had lost the opportunity to host the IC design park to Selangor which led to the state losing investment opportunities.

Earlier today, Ramasamy also said high-tech investors such as ARM Limited and Phison Malaysia are keen to invest in the Selangor IC design park when they would have invested in Penang.

Source: Malay Mail