Intel Corp reiterates its investment commitment in Malaysia

Intel Corp reiterates its investment commitment in Malaysia
-A +A

DAVOS, Switzerland (Jan 19): US-based chip maker Intel Corp has reiterated its commitment with an investment of more than RM30 billion to expand its operations in Penang and Kulim, Kedah.

“This investment is expected to create more than 4,000 jobs at Intel and also over 5,000 jobs in the construction sector,” said International Trade and Industry Minister Tengku Datuk Seri Zafrul Aziz.

“I welcome the commitment by Intel and such cooperation will be continued with other companies in an effort to increase investments in Malaysia,” he said after a meeting with Intel chief global operations officer Keyvan Esfarjani, here on Wednesday (Jan 18).

Intel is the world's largest semiconductor producer and was among the pioneers in the electrical and electronics industry in Malaysia, which began operations in 1972.

In 2021, Intel Corp announced the investment to build a new chip-packaging and testing factory in Malaysia, which is expected to begin production in 2024.

The minister also had a meeting with P&G president for Asia Pacific, Middle East and Africa, Suranjan Magesvaran, and P&G Asia Pacific, Middle East and Africa, vice-president, global government relations and public policy, Cecilia Tan.

“P&G is also making a commitment to invest more in Malaysia. We also discussed opportunities in Malaysia,” he said.

There is also another big investor that is coming into Malaysia in the logistics sector.

“I will be meeting them. So, it has been a productive day,” he said, adding that he would also be meeting a number of his counterparts from the region.

Tengku Zafrul also has bilateral meetings with New Zealand’s Minister of Trade and Export Growth Damien O’Connor and Port of Antwerp-Bruges chief executive officer Jacques Vandermeiren.

Earlier in the day, he was also in a closed door session on Global Trade: Navigating the Post Pandemic Supply Chain Challenge.