InvestPenang To Engage Intel On Future Direction In The State
BUSINESS
GEORGE TOWN, June 23 (Bernama) -- InvestPenang, the state government's investment promotion agency, plans to engage with Intel to gain a clearer understanding of the current status and future direction of the tech giant's investment in the state.
Chief Minister Chow Kon Yeow said the engagement is aimed at clarifying circulating reports that Intel plans to downsize its operations in Penang.
He said Intel's US$7 billion investment in Malaysia, first announced in 2021, includes the development of its advanced 3D chip packaging facility in Penang, the first of such scale outside the United States (US).
'I was invited to visit the facility a few months back to see the progress, and now, after a few months, it has advanced even further and is nearing completion.
'It is in our interest to know about their plans with regard to the facility that they have put up,' he told a press conference on Penang's approved manufacturing investment for the first quarter of 2025, here today.
The US$7 billion investment also includes plans to expand Intel's operations in Kulim, Kedah, bringing its total investments in Malaysia to US$14 billion by 2032.
Meanwhile, Minister of Investment, Trade and Industry, Tengku Datuk Seri Zafrul Abdul Aziz, said he recently held discussions with Intel regarding the company's plans for reinvestment and expansion of its operations in Malaysia.
He said Intel has invested RM50 billion in Malaysia to date and created employment opportunities for 12,300 local workers.
'Intel's presence in Malaysia since 1972 has grown in tandem with the country's rise as a global semiconductor hub.
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