Photo: ZHAFARAN NASIB/The Star
GEORGE TOWN: Penang has unveiled plans for an integrated circuit (IC) design and digital park, which offers one million square feet of premium office space to cater for high-impact projects.
Penang Chief Minister Chow Kon Yeow said this would further solidify Penang's position as a preferred investment destination for businesses and entrepreneurs in these sectors.
"This park is specifically catered to house high-impact activities including IC design, research and development, global business services (GBS), digital technologies investments, and a circular digital economy ecosystem.
"Encompassing 42.5ha in the Bayan Lepas Industrial Park, the project consists of two phases. The first phase involves the ongoing construction of two pioneering office buildings, GBS By The Sea and GBS
TechSpace, with 350,000 square feet of premium office space at a total cost of RM347mil.
"The second phase of the park involves an establishment of an additional building named GBS@TechnoPlex which will cost approximately RM308mil and provide an additional 500,000 sq ft space to the project," he said at a press conference at the Penang Development Corporation in Bayan Lepas on Saturday (May 4).
Chow said the first phase is scheduled to be completed by the fourth quarter of 2024, followed by the second phase by 2027.
He said in the past, the state has established its own GBS buildings, which were the first of its kind in the country, namely GBS@Mayang and GBS@Mahsuri, signifying the state's commitment towards a robust ecosystem for digital innovation.
"With the digital economy projected to contribute 25.5% to Malaysia's GDP, Penang currently hosts 200 Malaysia Digital status companies, predominantly from foreign direct investments, showcasing Penang's attractiveness in this sector.
"Specifically, Penang has attracted over 20 global IC design companies such as Intel, Motorola, AMD, Microchip, UST Global, Siemens, Zebra, Lattice, Synopsys, Efinix and StarFive, over the past 30 years, having created high-value job opportunities," he added.
