Penang Attracts RM129.1 Billion Worth Of Approved Investments In The Manufacturing Sector As At 2018

KUALA LUMPUR, May 16 (Bernama) — Penang has consistently ranked among the top investment destinations in the country over the last five decades. As of 2018, MIDA approved a total of 4,084 manufacturing projects with investments worth RM129.1 billion for Penang. These projects have created over 516,600 job opportunities, mainly in electrical and electronics products, basic metal products, scientific and measuring equipment, machinery and equipment and transport equipment. Approved foreign investments in the manufacturing sector totalled RM90.4 billion, accounting for 70 per cent of total investments approved for the State, while domestic investments assuming the remaining 30 per cent  or RM 38.7 billion. Last year alone, a total of 108  manufacturing projects to be located in Penang worth RM5.8 billion were approved by MIDA.