An economic outlook of Penang

The economy of Penang is thriving with its growth in the electronics, semi-conductor and high-tech industries, in particular.

In fact, Penang has the third largest economy among the Malaysian states, after Selangor and Johor. In 2000, manufacturing was the most important component of the Penang economy, contributing 45.9% of the State's Gross Domestic Product (GDP). High-tech electronics plants such as Dell, Intel, AMD, Altera, Motorola, Agilent, Hitachi, Osram, Plexus, Bosch and Seagate are all located within the Bayan Lepas Free Industrial Zone.

Penang was declared a Multimedia Super Corridor Cyber City - the first outside of Cyberjaya - in January 2005, with the goal of making the state a high-tech industrial park. Tourism, finance and shipping are among the other important sectors of Penang's economy.

The National Physical Plan of Malaysia envisages a Conurbation of Georgetown, which includes Georgetown and surrounding areas. The Conurbation of Georgetown is designated a Regional Growth Conurbation. The greater metropolitan area of Penang consists of highly urbanized Penang Island, Province Wellesley (Seberang Prai), Sungai Petani, Kulim and the surrounding areas. Under the 9th Malaysian Plan, this entire area is referred to as the Northern Corridor Economic Region (NCER).