Chow: Penang Sees Positive Investment Prospects From US Mission
GEORGE TOWN, Oct 6 (Bernama) -- Penang has identified positive investment prospects in the United States (US), particularly in sectors driven by the rapid expansion of artificial intelligence (AI) technology and data centres, said Chief Minister Chow Kon Yeow.
He said the state’s recent investment mission to the US had provided a positive outlook on market opportunities, with many companies exploring ways to tap into the growing AI ecosystem.
“We have, I think I can conclude that it is a very fruitful and positive outcome, but I feel sure investment will come.
“They will do a lot of studies, continue to make decisions on deals and understand our ecosystem, our talent,” he told reporters after officiating the Malaysia MedTech Industry Summit 2026, here today.
Also present were Medical Device Authority chief executive Datuk Dr P. Muralitharan and Malaysia Investment Development Authority (MIDA) executive director manufacturing development (resources) Surayu Susah.
On Sept 28, Chow led an investment and trade mission to the US, which ended on Oct 5, to strengthen ties with American investors and attract new investments to the state.
Organised by InvestPenang, the state’s investment promotion agency, the trade mission aims to renew existing relationships and forge stronger ties with the corporate headquarters of American companies.
Chow said the state government was also encouraged by the positive response from existing investors in Penang who were looking to expand their current operations.
He said reinvestment and expansion by existing investors were equally important to the country as they could generate significant economic value.
Therefore, he said Penang is working on both fronts by attracting new investors while assisting existing investors to assess their expansion plans, including requirements for land, talent development and infrastructure.
“I would say that Penang is still a very attractive destination because of our infrastructure and our strong ecosystem and our talent development as well. So we look forward to more investment coming into the country and coming into Penang,” he added.
He said the state government would continue to engage with potential investors while helping existing companies navigate their expansion plans and understand the opportunities available within Penang’s ecosystem.
-- BERNAMA