The Penang government is on the lookout for more industrial land to meet the increasing demand for such properties following the encouraging take-up in Batu Kawan by investors.
Penang Chief Minister Chow Kon Yeow said the Batu Kawan Industrial Park was a “smashing success” due to the rapid land take-up over the past few years.
“…this means we will have to look out for new landbank to meet the demand (for industrial land) to attract potential investors,” he said in a video conference.
Apart from land, he said the government at the Federal, state and local levels should also provide the right type of incentives to attract potential investors in order to be outstanding against the neighbouring countries.
He said amid the stiff competition among the Southeast Asian countries, Malaysia has to come up with good ideas or incentives to meet the potential investors’ special requirements.
“Malaysia has to offer incentives such as ecosystem, talent pool, education, intellectual property rights, and so on. All these are very important prerequisites to potential investors that they are looking at.
“We are considered lucky that Penang is one of the preferred destinations for potential investors, as I believe that they would have put in a lot of land research and consideration on other countries around the world before making their final decision,” he added.
Earlier today, Chow was the guest of honour for Lam Research Corporation’s virtual roof topping-out ceremony of its new manufacturing facility in Batu Kawan.
Lam Research (Manufacturing) vice president Mike Snell said that Lam Manufacturing Malaysia would serve as the manufacturing hub for Asia and would play a critical role in supporting the growing customer demand for their equipment.
“This new site will be an advanced manufacturing facility with the flexibility for expansion in our operations when needed,” he said.
Despite the uncertainties that occurred in the past year, Lam Manufacturing Malaysia general manager and senior director Soon K. Kuek said the progress of the new 65,032.13-square metre high-tech facility still remained on track and would serve as the Asia hub for Lam’s manufacturing operations.
“The new facility is on target to start operations by the second half of 2021 and is expected to attract more than 350 high-value employees by the end of this year,” she added.
Lam Research Corporation group is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry.
Source: BERNAMA News Agency