Malaysia: Trade wars boosted Penang's foreign investment by 1360% in the first quarter

    Bloomberg reported on June 13 that in the context of growing trade friction between China and the United States, Penang, Malaysia has become a safe haven for investors around the world. 

    In the first quarter of this year, Penang's foreign direct investment in manufacturing industry totaled 8.47 billion ringgit, a year-on-year increase of 1360%, and exceeded the total foreign investment in the region in 2018. 

    According to reports, Intel and Dell have previously set up factories in Penang, accounting for 42% of foreign direct investment in Malaysian manufacturing industries. 

    Foreign companies investing in Penang recently include Micron Technology and Jabil.