INTEL has given its commitment to invest RM70 billion over 10 years 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,” International Trade and Industry Minister Tengku Zafrul Abdul Aziz said. 

“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 operation officer Kevyan Esfarjani in Davos yesterday.

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.

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

Earlier in the day, he attended a closed-door session on Global Trade: Navigating the Post Pandemic Supply Chain Challenge. – Bernama, January 19, 2023.