Chow: US visit brings positive outlook for Penang investment

GEORGE TOWN: Chief Minister Chow Kon Yeow said his recent United States visit yielded a positive outlook for investment, particularly amid rapid AI-driven technology growth.

Chow said the delegation saw opportunities across several sectors, including artificial intelligence and data centres, as companies sought to capture opportunities arising from technological expansion.

"I think I can conclude that we have a very fruitful and positive outcome, with more investments to pour in," he told newsmen on the sidelines of the Malaysia MedTech Industry Summit 2026.

However, he said, investment decisions would take time as prospective investors studied Malaysia's ecosystem, talent pool and infrastructure before committing to projects.

Chow also highlighted the importance of retaining and supporting existing investors, saying expansions of current operations were equally valuable to the country as new investments.

"We are working on new investors and also existing investors, helping them to look into their expansion plan, whether they still need land, of course, talent development, infrastructure development," he said.

He said Penang remains an attractive investment destination because of its infrastructure, established ecosystem, and talent development.

He said Penang has niche areas it could develop further, and continued expansion by existing factories and new investors would strengthen the state's ecosystem.

"When investors decide to invest, they do a lot of studies, including ecosystem support, human and talent resources. So these are the areas that we need to focus on and to work on," he said.

He said the state would continue working to attract new investors while facilitating expansion plans by existing companies.

Chow recently led an eight-day investment and trade mission to the United States to attract high-value investments to Penang.

Organised by InvestPenang, the mission ran until Oct 5 and focused on strengthening ties with existing investors while courting new investments in key sectors, including semiconductors, integrated circuit (IC) design, medical devices and global business services (GBS).