Penang Records RM17.3 Bln Approved Manufacturing Investments In 2024 -- CM

GEORGE TOWN, May 1 (Bernama) -- Penang recorded approved manufacturing investments worth RM17.3 billion in 2024, strengthening its position as Malaysia’s leading technology investment and innovation hub, said Chief Minister Chow Kon Yeow.

In his Labour Day message today, Chow said this comprised 182 projects which created about 16,254 job opportunities last year.

“Along with sustainable economic growth and encouraging investment performance, the labour market in Penang continues to strengthen, with the latest data from the Labour Force Survey for the fourth quarter of 2024 showing the state’s unemployment rate at 2.2 per cent.

“Penang recorded a labour force participation rate of 73.2 per cent, thus proving that people are increasingly optimistic about the labour market and encouraging them to look for jobs,” he said.

He said the state has also strengthened its reputation as a focal point for international trade, particularly in the electronics and semiconductor sectors, which are experiencing rapid growth.

In conjunction with Labour Day, Chow said that the state government would continue to champion the rights and welfare of workers through inclusive policies, skills training programmes, and creating more high-value job opportunities.

He stressed that the development of digital, green, and smart technology sectors will continue to be given priority so that workers remain relevant and competitive.

“I also urge all employers to continue to maintain harmonious and fair relationships with their employees as the long-term success of an organisation depends not only on profits, but also on the well-being and happiness of its workforce," he said. 

-- BERNAMA