Malaysia: Trade wars boosted Penang's foreign investment by 1360% in the first quarter
Publish Time: 2019-06-24 Origin: Site
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.