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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]
Bayan Lepas is a suburb of George Town in the Malaysian state of Penang.Located near the southeastern tip of Penang Island, 15 km (9.3 mi) south of the city centre, it is home to the Penang International Airport, the third busiest airport in Malaysia, as well as one of the oldest free industrial zones in the country.
Bayan Lepas Free Industrial Zone, George Town, Penang; Hulu Klang Free Trade Zone (Statchippac, Texas Instrument) Kulim Hi-Tech Park, Kedah; Melaka Batu Berendam Free Trade Zone (Texas Instrument, Dominant Semiconductor, Panasonic) Pasir Gudang Free Trade Zone, Johor; Port Klang Free Zone, Klang, Selangor
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As a part of this economic transformation, the Bayan Lepas Free Industrial Zone (Bayan Lepas FIZ) was established in 1972. [75] The zone has played a significant role in Penang's economic growth over the decades since.
See also: List of special economic zones and List of free-trade zones In special economic zones business and trades laws differ from the rest of the country. The term, and a number of other terms, can have different specific meanings in different countries and publications. Often they have relaxed jurisdiction of customs or related national regulations. They can be ports or other large areas ...
Bayan_Lepas_Free_Industrial_Zone,_Penang_Island.jpg (600 × 450 pixels, file size: 80 KB, MIME type: image/jpeg) This is a file from the Wikimedia Commons . Information from its description page there is shown below.
Originally founded as an entrepôt, George Town's diversified economy is powered by the twin major sectors of manufacturing and services. Penang's path to industrialisation began in the 1970s with the establishment of free industrial zones at Bayan Lepas and Perai.