KUALA LUMPUR (March 10): Penang approved RM22.4 billion worth of manufacturing investments last year, up by 29% from 2024, said Penang Chief Minister Chow Kon Yeow in a media statement on Tuesday.

He noted that Penang contributed 17% of Malaysia’s total approved manufacturing investment, making the state the third-largest contributor nationwide. 

The Malaysian Investment Development Authority, on March 6, said that the manufacturing sector recorded RM131.3 billion in approved investments last year.

Penang's approved investments span 232 projects and are expected to generate 24,633 new job opportunities in the state. 

Out of the RM22.4 billion approved investments, foreign direct investment (FDI) amounted to RM15.2 billion, with Singapore, the US and China being the top three contributors, while domestic direct investment (DDI) more than doubled from the 2024 amount to RM7.2 billion.

Chow said 81% of the total approved inflows were largely concentrated in the electrical and electronics, machinery and equipment, and chemicals and chemical products sectors, said Chow. Of these, 52% were new projects while the remaining investments went towards expansion projects.

“[It] highlights Penang’s dual strength in attracting new investors while enabling existing companies to scale their operations,” he said, adding that the state continued to sustain investor interest amid the global uncertainties pertaining to the evolving trade dynamics and tariff developments.

“Penang is encouraged by the strong investment performance recorded in 2025. In the face of global uncertainties, the state has continued to attract quality investments that further strengthen our role within the global value chain."