Invest Penang

What Invest Penang does

InvestPenang (Invest-in-Penang Berhad, registration 671697-P) is a non-profit investment promotion agency wholly owned by the Penang State Government, established on November 5, 2004. The agency functions as a one-stop facilitation body for investors — both multinational corporations and local SMEs — seeking to establish or expand operations in Penang. Its service portfolio spans site selection, factory construction or rental coordination, supplier and partner introductions, regulatory navigation (including the mandatory No Objection Letter required before MITI/MIDA issues manufacturing licenses), and business linkage platforms. Services are provided free of charge, and the agency does not generate revenue from its facilitation activities.

The agency's product surface combines a digital platform layer — the eNOL electronic No Objection Letter system, the InvestPenang website portal, and the Penang Companies Directory — with a set of industry initiatives: Penang Silicon Design @5KM+ (PSD@5KM+, launched December 2024) for semiconductor IC design and AI silicon; the Penang ATE Campus (launched April 2026 in Batu Kawan) for automation, test and equipment; SMART Penang Centre for SME market intelligence and training; Penang CAT Centre for talent matching; the Penang Future Foundation scholarship program; and the Global Business Services Focus Group (GFG) for digital economy positioning.

InvestPenang operates a hybrid go-to-market combining direct enterprise field sales (one-on-one facilitation from inquiry through operations) with event-driven outreach (seminars, SEMICON Southeast Asia, GATE, EMAX, investment missions). With 11-50 staff headquartered at the Penang Skills Development Centre Building in Bayan Lepas, the agency is led by CEO Dato' Loo Lee Lian and functions as an extension of the Penang State Government rather than a commercial enterprise. Penang's reported 2025 outcomes attributed to InvestPenang's facilitation activity include RM22.4 billion in approved manufacturing investment, 232 projects, and an estimated 24,633 jobs created.

Name

Invest Penang

Legal name

Invest-in-Penang Berhad

Website

https://investpenang.gov.my

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

11–50 employees

Short description

InvestPenang is a non-profit investment promotion agency of the Penang State Government that provides free one-stop facilitation services to multinational corporations and SMEs seeking to establish or expand operations in Penang's semiconductor, electronics, and manufacturing ecosystem.

Ownership category

akta.pro rank

Product category

Investment Promotion Services

NAICS

Miscellaneous Intermediation (52391), All Other Financial Investment Activities (52399)

SIC

International Affairs (9721), Services-Management Consulting Services (8742)

akta.pro primary industry

Public Asset & Investment Management (BPAIAEAG)

akta.pro secondary industries

SME & Entrepreneurship Development (Trade-Linked) (BPADAMAE), Capital Raising Advisory (Debt/Equity/Private Capital) (BPAHADAG)

Keywords

• Investment promotion services
• Business facilitation services
• Industrial investment agency
• SME support services
• Economic development services

Headquarters

HQ city

Penang

HQ country

Malaysia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

1. Investment Promotion Services: InvestPenang operates as a non-profit entity of the State Government with the sole purpose of promoting investments within Penang. Services are provided free of charge to investors. The agency does not generate revenue from its facilitation activities.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels8 records

Core offering

InvestPenang is a one-stop investment promotion agency of the Penang State Government that provides comprehensive, free facilitation services to investors establishing or expanding operations in Penang. Its core offering covers site selection, regulatory navigation (including issuing No Objection Letters required for MITI/MIDA manufacturing licenses), supplier and partner introductions, talent linkage, and post-investment support. The agency also operates industry development initiatives such as Penang Silicon Design @5km+, the Penang ATE Campus, SMART Penang Centre for SMEs, the Penang CAT Centre for talent matching, the Penang Future Foundation scholarship program, and the GBS Focus Group.

Product overview

InvestPenang is a non-profit investment promotion agency of the Penang State Government that operates as a one-stop agency providing comprehensive information on Penang's investment opportunities and facilitating businesses at every stage. The organization offers a portfolio of digital services and industry initiatives including the eNOL electronic application system for manufacturing licenses, the InvestPenang website portal for investment information, and specialized initiatives such as Penang Silicon Design @5km+ for semiconductor ecosystem development, Penang ATE Campus for automation and testing equipment sector, SMART Penang Centre for SME support, Penang Career Assistance & Talent Centre for workforce development, Penang Future Foundation for scholarships, and the Global Business Services Focus Group for digital economy positioning.

Differentiator

Problem solved

Functional benefit

Brands

• SMART Penang Centre: SME Market Advisory Resource & Training Centre - a joint initiative by Penang State Government and InvestPenang providing market intelligence, business consultation, information & resources, and training services for SMEs.
• Penang Silicon Design @5km+ (PSD@5km+)
• Penang ATE Campus
• GBS Focus Group (GFG)
• Penang Career Assistance & Talent Centre (Penang CAT Centre)
• Penang Future Foundation (PFF)

Products and services

• eNOL (Electronic No Objection Letter) A digital platform for companies to submit online applications for No Objection Letters required before obtaining manufacturing licenses from MITI/MIDA. The system streamlines the approval process by enabling electronic submission of applications with supporting documents.
• InvestPenang Website Portal A comprehensive web portal providing information on Penang's investment opportunities, industries, setting up business procedures, news, events, and access to various investment facilitation services including company directories and service provider listings.
• SMART Penang Centre A market intelligence, business consultation, information and resource, and training centre for Penang's SMEs, providing support for new business registration, license applications, and access to government initiatives.
• Penang Silicon Design @5km+ (PSD@5km+) A collaborative initiative between government, academia, and industry to drive innovation and accelerate AI revolution in Malaysia's semiconductor industry. Includes IC design park, chip design academy, silicon research incubation space, and a Shared Lab for IC Design Validation & Characterization with 18 technology collaborators.
• Penang ATE Campus An industry-led automation, test and equipment (ATE) campus initiative developed in two phases to establish collaborative industry platforms including field labs and training programmes, eventually building a physical campus modeled on Brainport Industries Campus in Eindhoven.
• Penang Career Assistance & Talent Centre (Penang CAT Centre) A resource centre and contact point for employer-talent matching, promoting talent development programs, advocating talent policy planning, and building partnerships with stakeholders through dialogue and engagement activities.
• Penang Future Foundation (PFF) A scholarship program funded by private sector and donor contributions for outstanding Malaysians pursuing undergraduate degrees in Malaysia, creating a talent pool for Penang upon graduation.
• Global Business Services Focus Group (GFG) A focus group led by InvestPenang with industry leaders to advise and advocate positioning Penang as a preferred investment destination in the digital economy sector, guiding planning, development, and promotion of the GBS industry.

Quantifiable outcome

• 24,633 estimated jobs created from manufacturing investment in 2025
• +2 more outcomes

Named customers10 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered core and major.

• ATE Campus Partner MNCscoreStrategic or Co-development Partner · 1 April 2026Eleven memoranda of understanding signed between multinational corporations and InvestPenang for the RM40 million Automation, Test and Equipment (ATE) campus in Batu Kawan. Initiative aimed at strengthening Malaysia's ATE sector as next engine of industrial transformation.
• GBS Focus Group (GFG) MemberscoreStrategic or Co-development Partner · 1 January 2025Penang GBS Focus Group established to provide advice and advocacy for positioning Penang as the preferred investment destination in the digital economy. Members include MDEC, ams OSRAM, Citigroup, Clarivate, Infineon Technologies, Intel, Motorola Solutions, UST, and Wilmar. Committee members 2025-2026: Amar Chhajer (UST), Audrey MH Foo (Citigroup), Jazlan Mohd Isa (Infineon), Kevin Leong (Synopsys), Lau Wai Shin (AMD), Nitin Mendon (Toll Group), Oh Ming Poh (Wilmar), Shaun Lee (Clarivate).
• PSD@5KM+ Technology CollaboratorscoreTechnology or Integration · 1 December 202418 technology collaborators supporting Penang Silicon Design @5KM+ initiative. Second batch onboarded includes Oppstar Technology, X-FAB Sarawak, Contacthings, and ElectroRent. Key partners include Contacthings, ElectroRent, Keysight, and MIMOS as Shared Lab partners. EDA tools, multi-project wafer services, and packaging collaborators involved.
• Penang GBS Industry Academy (PGIA)coreStrategic or Co-development PartnerAcademy bringing together private sector, government entities, and academia to bridge talent supply-demand gaps. Targets fresh graduates, job seekers, working professionals, academics, and business owners with digital economy courses including GBS introduction, technical/professional skills, and management/soft skills.
• Penang Development Corporation (PDC)coreStrategic or Co-development PartnerPDC allocates industrial land for investment projects. Committed 10 acres of land worth RM40 million for ATE campus development and provides flatted factory SME Centre facilities.
• Malaysia Digital Economy Corporation (MDEC)majorChannel Partner/ Reseller/ DistributorMDEC representatives participate in the GBS Focus Group to support Penang's digital economy industry development and GBS positioning.

Scale indicators13 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Invest India: India's national investment promotion and facilitation agency. Comparable mandate and free-of-charge service model, while operating at a larger national scale and aggressively targeting semiconductor and electronics FDI that competes with InvestPenang.
• Singapore Economic Development Board (EDB): Singapore's national investment promotion agency, directly comparable in mandate (attract MNC FDI, facilitate business setup) but operating at much larger scale and with broader industry reach. Key regional competitor for the same semiconductor and advanced manufacturing investments InvestPenang pursues.
• Malaysian Investment Development Authority (MIDA): Malaysia's federal investment promotion agency that awards manufacturing licenses after InvestPenang issues NOLs. Operates at the national level and is the upstream counterpart in the investment facilitation chain, sharing a comparable investor-facing mission.
• Invest Hong Kong (InvestHK): Hong Kong's government investment promotion department with comparable mandate of attracting and facilitating MNC establishment. Comparable in operating model (free services, government-backed, broad sector coverage) and competes for similar Asia-Pacific investment flows.

Direct peers

• Iskandar Regional Development Authority (IRDA): Malaysian state-level economic development authority for the Iskandar Malaysia zone in Johor. Most structurally similar peer to InvestPenang as both are sub-national investment promotion bodies driving regional FDI attraction within Malaysia.
• InvestKL: Kuala Lumpur's investment promotion agency focused on attracting multinational regional headquarters and GBS operations. Directly comparable as a Malaysian city/state agency competing for similar multinational investments, including overlapping digital economy focus via the GBS segment.

Emerging players

• Dubai Investment Development Agency (Dubai FDI): Dubai's investment promotion agency with a comparable mandate to attract FDI and facilitate business setup, particularly in technology and advanced industries. Operates at city/state level similar to InvestPenang's scope within Penang.

Regional players

• Thailand Board of Investment (BOI): Thailand's national investment promotion authority offering tax incentives and facilitation services. Comparable operating model and competes with InvestPenang for semiconductor, electronics, and automotive FDI across Southeast Asia.
• Indonesia Investment Coordinating Board (BKPM): Indonesia's investment promotion agency managing foreign investment licensing and incentives. Structurally similar mandate and a regional competitor for Southeast Asian semiconductor and electronics FDI that could divert deals from Penang.
• Vietnam Investment Promotion Agency (IPA Vietnam): Vietnam's national foreign investment promotion agency, a regional competitor actively courting semiconductor and electronics MNCs relocating or diversifying from China. Highly comparable function and a key geographic competitor for the same FDI pipeline.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCPzSM5zNrjoWWPXIguFDPSQ
• Facebookfacebook.com/investpg
• LinkedInlinkedin.com/company/investpg

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Invest Penang