Penang still attracting foreign investors despite US tariff fears, says chief minister

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Penang continues to attract investment interest from the US, China, Singapore, and other countries despite looming US tariffs. Chief Minister Chow Kon Yeow stated InvestPenang is actively handling inquiries from potential investors. While a new 19% tariff on Malaysian goods matches rates for other ASEAN nations, creating a level playing field, concerns remain about a potential 100% tariff on semiconductor chips. Chow highlighted ongoing efforts to secure investments and develop Penang's IC design ecosystem. From 2020 to Q1 2025, Penang secured RM191.4 billion in approved manufacturing investments, generating nearly 80,000 jobs.