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The Bayan Lepas Free Industrial Zone (Bayan Lepas FIZ) is a free trade zone within George Town in the Malaysian state of Penang. Located adjacent to the Penang International Airport and 12 km (7.5 mi) south of the city centre, it is a high-tech industrial park widely regarded as the Silicon Valley of the East. [3] [4] [5]
MIDA is able to offer various incentives to attract foreign investment, including incentives for specific companies. Regionally, there are two levels of incentives: one for Kuala Lumpur, Johor Bahru, and Penang, and another for the rest of the country. MIDA meets weekly on Thursdays to approve new investment applications, and proposed ...
Ministry of Investment, Trade and Industry (MITI) Ministry of National Unity (KPN) Ministry of Natural Resources and Environmental Sustainability (NRES) Ministry of Plantation and Commodities (KPK/MPC) Ministry of Rural and Regional Development (KKDW) Ministry of Science, Technology and Innovation (MOSTI) Ministry of Tourism, Arts and Culture ...
The economy of Penang is classified as a high-income economy and is the fifth largest in Malaysia by gross domestic product (GDP). In 2023, Penang contributed 7.6% of Malaysia’s GDP. The state had a GDP per capita of RM72,586 (US$15,918), the third highest in the country after Kuala Lumpur and Labuan , surpassing the World Bank ’s threshold ...
Mooted as the main transportation hub in the State of Penang and as Penang's answer to Kuala Lumpur Sentral, Penang Sentral is intended to serve as a termini for both public bus and longer-distance intercity bus services. [29] Public bus services are provided by two firms - Rapid Penang and Cityliner. Due to Butterworth's importance as a ...
The Greater Penang Conurbation, also known as the George Town Conurbation, [1] [2] is the urban area within and surrounding the Malaysian state of Penang, including parts of neighbouring Kedah and Perak. It is the second largest conurbation in Malaysia, with a population of over 2.84 million as of 2020.
Penang is a key manufacturing hub in the country and is home to manufacturing plants operated by Dell, Intel and AMD. [8] Penang and the island of Langkawi are well-known tourist destinations in Malaysia; the NCER plans to double tourist receipts and triple tourist expenditure by 2020. [ 2 ]
Affin Hwang Investment Bank Berhad is a fully owned subsidiary of Affin Bank Berhad, a financial services conglomerate, which is listed on the Bursa Malaysia. The business has primary offices in Kuala Lumpur and Penang. Affin Hwang Capital has head offices in Kuala Lumpur and Penang, Malaysia.