Economy of Penang

From the 1970s to the late 1990s, the state’s Free Trade Zone in the Bayan Lepas area was one of Asia’s largest electrical and electronics manufacturing bases. The area south of the island is now the Bayan Lepas Free Industrial Zone. Key exports include electrical and electronic products, semi-conductors, computer products, medical devices, textiles, gold and jewellery.

Penang’s medical tourism and education sectors continue to grow steadily as the state’s industrial sector moves towards high-end manufacturing activities and up the value-chain. The service sector driven by knowledge-based workers is the next frontier as the state focuses on research and development and innovation.

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