๐๐ข๐ท๐ฆ ๐บ๐ฐ๐ถ ๐ฏ๐ฐ๐ต๐ช๐ค๐ฆ๐ฅ ๐ต๐ฉ๐ข๐ต ๐๐ฆ๐ฏ๐ข๐ฏ๐จ'๐ด ๐ค๐ถ๐ณ๐ณ๐ฆ๐ฏ๐ต ๐ฉ๐ช๐ด๐ต๐ฐ๐ณ๐บ ๐ช๐ด ๐ข ๐ต๐ฐ๐ต๐ข๐ญ ๐ฅ๐ฆ๐ฑ๐ข๐ณ๐ต๐ถ๐ณ๐ฆ ๐ง๐ณ๐ฐ๐ฎ ๐ช๐ต๐ด ๐ด๐ต๐ฐ๐ณ๐บ ๐ฐ๐ง ๐ฐ๐ณ๐ช๐จ๐ช๐ฏ? ๐๐ฉ๐ฆ๐ฏ, ๐๐ฆ๐ฏ๐ข๐ฏ๐จ ๐ด๐ต๐ข๐ณ๐ต๐ฆ๐ฅ ๐ข๐ด ๐ข๐ฏ ๐ฆ๐ด๐ด๐ฆ๐ฏ๐ต๐ช๐ข๐ญ ๐ฆ๐ฏ๐ต๐ณ๐ฆ๐ฑ๐ฐ๐ต. ๐๐ฐ๐ฅ๐ข๐บ, ๐๐ฆ๐ฏ๐ข๐ฏ๐จ, ๐ฌ๐ฏ๐ฐ๐ธ๐ฏ ๐ข๐ด ๐ต๐ฉ๐ฆ "๐๐ฏ๐จ๐ช๐ฏ๐ฆ๐ฆ๐ณ๐ช๐ฏ๐จ ๐๐ฆ๐ข๐ท๐ฆ๐ฏ, " ๐ข๐ต๐ต๐ณ๐ข๐ค๐ต๐ฆ๐ฅ ๐ต๐ฉ๐ฐ๐ถ๐ด๐ข๐ฏ๐ฅ๐ด ๐ฐ๐ง ๐๐ฏ๐จ๐ช๐ฏ๐ฆ๐ฆ๐ณ๐ด ๐ง๐ญ๐ฐ๐ฐ๐ฅ๐ช๐ฏ๐จ ๐ช๐ฏ๐ต๐ฐ ๐ต๐ฉ๐ฆ ๐๐ด๐ญ๐ข๐ฏ๐ฅ ๐ต๐ฐ ๐ธ๐ฐ๐ณ๐ฌ ๐ธ๐ช๐ต๐ฉ๐ช๐ฏ ๐๐ถ๐ญ๐ต๐ช-๐๐ข๐ต๐ช๐ฐ๐ฏ๐ข๐ญ ๐๐ฐ๐ฎ๐ฑ๐ข๐ฏ๐ช๐ฆ๐ด (๐๐๐๐ด).
๐ขPenang Hidden Gems spoke in detail about Penang's Past, Present, and Future in a Facebook Live Stream entitled En Route to Modernization. Head on to https://youtu.be/PmtA3x4h3Hk to watch our video on the topic.
Aerial View of Phase 4 Penang Free Industrial Zone in Bayan Lepas, Penang.
For centuries, the vibrant and busy port attracted traders worldwide and led to the growth of Multi-Culturalism. Thus, when Penang's free port status was revoked in 1967, our livelihood was threatened.
The staggering unemployment rate of 16% and the Per-Capital income dropped 12% below the national wages. Moreover, the 11 Mei 1969 racial riot added salt to injury that may not be likely for Penang to recover. It was indeed a dark moment for Penang.
At this hardest-hit moment, Penang rebound under the leadership of the newly elected Chief Minister, then Tun Doctor Lim Chong Eu. Tun Lim Chong Eu identified the electronics sector as having the best potential to absorb the state's excess semi-skilled workforce.
After years of appealing and proposal finally, the Malaysian federal government enacted the Free Trade Zones Act in 1972 and tax incentives were offered.
The Bayan Lepas FIZ proved successful in attracting MNCs and its creation played a vital role in reversing Penang's economic crisis. Intel, AMD, Hewlett-Packard, Clarion, National Semiconductor, Hitachi, Osram, and Boschโcollectively known as the Samurai Eightโwere the first MNCs to set up factories within the zone followed by Motorola and Dell. Photo credit: https://www.buletinmutiara.com/innoplex-to-attract-world.../
The thriving Bayan Lepas Free Industrial Zone have evolved from low-skilled manufacturing site to a high-skilled Research and Development (R&D) area. Today, Penang, known as the "Engineering Heaven, " attracted thousands of Engineers flooding into the Island to work within Multi-National Companies (MNCs). Photo credit: http://www.adtectaiping.gov.my/.../92-lawatan-industri-ke...
The Bayan Lepas FIZ proved successful in attracting MNCs and its creation played a vital role in reversing Penang's economic crisis. Intel, AMD, Hewlett-Packard, Clarion, National Semiconductor, Hitachi, Osram, and Boschโcollectively known as the Samurai Eightโwere the first MNCs to set up factories within the zone followed by Motorola and Dell.
Consequently, the manufacturing sector became one of Penang's largest economic sectors, while the international press has described the zone itself as the "Silicon Valley of the East".
๐ณ๐๐๐ ๐๐๐ ๐๐๐๐? ๐ฏ๐๐๐ ๐๐ ๐๐ ๐๐๐๐ ๐๐๐ ๐๐๐๐๐ ๐๐๐๐ ๐๐๐๐!โค๏ธโ๐ฅ
Sources:
[1] https://www.theedgemarkets.com/article/free-port-no-more-burden-penangs-first-cm
[2] https://penangmonthly.com/article.aspx?pageid=2593&name=pdc_making_penang_lead
[3] https://www.penangmonthly.com/article.aspx?pageid=7786&name=penangs_development_still_depends_on_the_pdc
[4] https://www.thestar.com.my/news/nation/2010/11/25/the-man-behind-penangs-economic-transformation/
[5] https://www.bbc.com/news/av/business-42686192
[6] https://www.buletinmutiara.com/innoplex-to-attract-world-class-industrial-players/
[7] https://www.psdc.org.my/about