Penang targets new investments with US trade mission led by Chief Minister Chow Kon Yeow
Penang Chief Minister Chow Kon Yeow is leading an investment and trade mission to the United States from 28 September to 5 October 2026, as the state looks to strengthen its ties with American investors and business partners.
Organised by InvestPenang, the state’s investment promotion agency, the mission will see Chow and InvestPenang delegates hold a series of meetings and site visits with the corporate headquarters of American companies that already operate in Penang. The goal is to encourage these companies to expand their Penang sites, while also bringing in new investments.
The trip comes just weeks after Penang reported RM17.3 billion in approved manufacturing investments for the first half of 2026, up 38% from the same period last year. Foreign direct investment made up RM12.8 billion of that, with the United States among the state’s top four sources of FDI alongside Hong Kong, Singapore and China. Together, those four countries accounted for 77% of Penang’s manufacturing FDI during the period.
During the mission, the delegation will also update American companies on what’s been happening in Penang. This includes the Penang Silicon Design @5km+ initiative, which brings together three chip design facilities located within about 5km of each other: the Penang IC Design & Digital Park in Bayan Lepas, the Penang Chip Design Academy at PSDC and the Silicon Research & Incubation Space at GBS TechSpace.
Also on the agenda is the Penang ATE Campus in Batu Kawan, which is meant to help local companies develop and commercialise their own automation, test and equipment (ATE) solutions for the semiconductor industry. The delegation will also share infrastructure upgrades and policy changes aimed at making it easier to invest in the state.
Beyond existing investors, the mission will also target potential new investments in areas such as IC design, advanced packaging, equipment manufacturing, medical devices and global business services (GBS).
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