Penang Secures RM2.3 Bln MedTech Investments, Creates Nearly 4,500 Jobs
GEORGE TOWN, Oct 6 (Bernama) -- Penang secured RM2.3 billion in approved investments in the medical technology (MedTech) sector from 2021 to the first quarter of 2026, involving 40 projects and creating nearly 4,500 jobs, said Chief Minister Chow Kon Yeow.
He said this reflected the growing strength of Penang’s MedTech ecosystem and its transition towards higher-value manufacturing.
“MedTech is no longer a niche sector here. It is a pillar of our high-value manufacturing ecosystem,” he said in his speech at the Malaysia Medtech Industry Summit 2026 here today.
Also present were Medical Device Authority (MDA) chief executive Datuk Dr P. Muralitharan and Malaysian Investment Development Authority executive director manufacturing development (resources) Surayu Susah.
Chow pointed out that Penang was now home to seven of the world’s top 30 MedTech companies, namely Abbott, Boston Scientific, B. Braun, Smith+Nephew, STERIS, Dexcom and Intuitive Surgical.
He said the state recorded RM238 billion in exports of optical, precision, medical and surgical instruments between 2021 and mid-2026, accounting for an average 64 per cent of Malaysia’s total exports in the category.
Chow said Penang’s MedTech industry had benefited from the synergy between the electrical and electronics (E&E) and MedTech sectors, built on more than five decades of expertise in semiconductors and advanced electronics.
“These competencies translate directly into surgical instruments, implants, and high-accuracy medical devices,” he added.
He said the state government was now focused on moving beyond manufacturing scale towards higher-value activities, including design, research and development, regulatory and testing capabilities.
According to him, Penang is now aiming to double the number of homegrown MedTech companies producing MDA-registered devices from the current 20 to 40.
More than 20 local MedTech companies currently produce MDA-registered devices, ranging from orthopaedic implants and surgical instruments to wound care, dental products, infection-control solutions and medical consumables.
Chow said the state would also work with industry players and academia to develop the engineers, technicians and quality specialists required to support the sector’s growth.
"Penang’s experience in building its semiconductor industry provides a strong foundation for the next phase of MedTech development. MedTech is the next chapter of that story, where precision manufacturing serves human health,” he added.
-- BERNAMA