InvestPenang
 Headquarters at Bayan Lepas in George Town, Penang | |
| Agency overview | |
|---|---|
| Formed | 5 November 2004 |
| Type | State-owned investment promotion agency |
| Jurisdiction |  Penang state government |
| Headquarters | 1, Jalan Sultan Azlan Shah, Penang Skills Development Centre Building, Bayan Lepas, George Town, Penang, Malaysia |
| Agency executive |
|
| Website | investpenang |
InvestPenang is the principal investment promotion agency in the Malaysian state of Penang. Incorporated in 2004 as a subsidiary of the state-owned Penang Development Corporation (PDC), InvestPenang is tasked with supporting businesses in the state through the promotion of inbound investments.[1][2] It is currently owned by Penang's State Secretary Incorporated (SSI), an investment arm of the Penang state government.[3]
Functions
[edit]As the primary investment promotion agency of the Penang state government, InvestPenang jointly manages investor liaison within Penang with the Malaysian Investment Development Authority (MIDA), the federal agency responsible for driving investments into Malaysia.[4][5] While MIDA and the federal Ministry of Finance oversee fiscal incentives, InvestPenang provides assistance with incorporation processes, serving as an intermediary between the private sector and relevant government bodies.[2][6]
In collaboration with the PDC, InvestPenang promotes industrial development within Penang through information, complementary policies, fostering business linkages, and supporting small and medium enterprises (SMEs).[5][7][8] It maintains a database of local SMEs and actively engages multinational companies to build supply chains with the SMEs.[9] It also administers land for business use and supports the private sector with due diligence.[5] Additionally, InvestPenang's scope extends into the services sector, encompassing areas such as education, medical tourism and hospitality.[7]
See also
[edit]- George Town World Heritage Incorporated
- Penang Hill Corporation
- Penang Skills Development Centre
- Penang Water Supply Corporation
References
[edit]- ^ "About InvestPenang". InvestPenang. 2024-01-24. Retrieved 2025-03-21.
- ^ a b Michelmann, Hans (2009). Foreign Relations in Federal Countries. McGill–Queen's University Press. ISBN 9780773576186.
- ^ Gomez, Edmund; Fisal, Fikri; Padmanabhan, Thirshalar; Tajuddin, Juwairiah (18 Aug 2018). "Government in Businesses: Diverse Forms of Intervention" (PDF). Institute for Democracy and Economic Affairs.
- ^ Hutchinson, Francis; Saravanamuttu, Jayaratnam (2012). Catching the Wind: Penang in a Rising Asia. ISEAS – Yusof Ishak Institute. ISBN 9789814379878.
- ^ a b c OECD Investment Policy Reviews: Viet Nam 2018. OECD. 2018. ISBN 9789264282957.
- ^ Doris Liew (May 2024). "Investment Facilitation: A One-Stop Mechanism Needed to Assist Investors in Penang and Malaysia" (PDF). Penang Institute.
- ^ a b Ooi, Kee Beng; Goh, Ban Lee (2010). Pilot Studies for a New Penang. ISEAS – Yusof Ishak Institute. p. 123. ISBN 9789814279697.
- ^ OECD Investment Policy Reviews: Malaysia 2013. OECD. 2013. ISBN 9789264194588.
- ^ OECD Reviews of Innovation Policy: Malaysia 2016. OECD. 2016. ISBN 9789264255340.