GEORGE TOWN, April 15 (Bernama) -- Penang continues to strengthen its position as Malaysia’s premier investment and technology innovation hub, with realised investments worth RM42.76 billion and the creation of nearly 9,000 job opportunities in 2024.
The Northern Corridor Economic Region (NCER) in a statement today said the achievement stemmed from close collaboration with the Penang state government and Malaysian Investment Development Authority (MIDA).
"The positive momentum has carried into 2025, with RM13.3 billion in investments realised and 3,000 new jobs created as of the first quarter of the year," it said.
Earlier, these latest developments were discussed at the Strategic Collaboration Ceremony for the Advancement of the NCER Technology Innovation Centre (NTIC) and the NCER Entrepreneur Sustainable Transformation (NEST) programme at Komtar here, today.
Chief Minister Chow Kon Yeow who officiated the event emphasised that the state government’s commitment to supporting initiatives implemented by NCER is in line with Penang2030 Vision and the MADANI Economy aspirations.
He pointed out that NTIC and NEST play a vital role in developing a sustainable innovation and entrepreneurship ecosystem in Penang.
"In 2024, NTIC helped to realise investments worth RM26.8 billion and created over 900 job opportunities, while NEST successfully boosted cumulative annual sales of local companies by RM197 million," he said.
Meanwhile, Northern Corridor Implementation Authority (NCIA) chief executive Mohamad Haris Kader Sultan said NTIC, located in Bayan Lepas, aims to strengthen the industrial ecosystem through three key initiatives, namely Centre of Excellence, Advanced Technology Meister Programme, and Technology and Innovation.
He noted that the centre is expected to serve as a collaborative hub for local small and medium enterprises, multinational corporations, and academic institutions, while NEST programme continues to demonstrate positive impact, having assisted 80 local companies in increasing revenue and creating 356 new jobs.
"The programme focuses on brand strengthening, technology adoption and efficient financial management. NCER is committed to working with all stakeholders to ensure Penang remains a leading investment destination and a regional technology innovation hub,” he added.
-- BERNAMA
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