GEORGE TOWN: The Penang state government has unveiled its plan to establish an Integrated Circuit (IC) Design and Digital Park, which offers a total of 1.0 million square feet (sq ft) of premium office space to attract and house high-impact projects.
Penang Chief Minister Chow Kon Yeow said these developments will further solidify Penang’s position as the preferred investment destination for businesses and entrepreneurs in these sectors.
He said the development of the park consists of two phases, involving 42.5 hectares in the Bayan Lepas Industrial Park.
“The first phase which began in January last year involves the construction of two office buildings, namely the Global Business Services (GBS) By The Sea and the GBS TechSpace, with a total cost of RM347 million.
“(The first phase) is set to be completed by the fourth quarter of this year, providing approximately 350,000 sq ft of premium office space, equipped with high-spec building features, cutting-edge engineering lab facilities and parking accommodations,” he said during a press conference here, today.
Chow said the second phase involves the construction of GBS@Technoplex, which will cost approximately RM308 million, scheduled for completion by 2027.
He highlighted that in the past, the state has established its own GBS buildings which are the first of their kind in Malaysia, namely GBS@Mayang and GBS@Mahsuri, signifying the state’s commitment towards a robust ecosystem for digital innovation.
He noted that Penang currently hosts 200 Malaysia Digital-status companies, predominantly from foreign direct investments, showcasing the state’s attractiveness in this sector.
“To further promote IC design, the state is introducing subsidised rental rates for office spaces.
“Additionally, we are in the process of applying to the Federal Government for incentives and grants to enhance the ecosystem. These initiatives will be incorporated into the forthcoming incentive package,” he said.
Chow also said that the state is committed to providing exceptional infrastructure, conducive facilities, and attractive amenities to strengthen Penang’s pioneer position in the IC design and digital industries.
Over the past 30 years, Penang has been home to over 20 global IC Design companies, including Intel, Motorola, AMD, Microchip, UST Global, Siemens, Zebra, Lattice, and Synopsys, as well as several homegrown IC design corporations such as SkyeChip, Oppstar Technology and Infinecs Systems. — BERNAMA
