The chief minister’s office said the mission organised by InvestPenang  is aimed at encouraging the expansion of the investors’ presence in the state and attracting new investments.

“Additionally, the mission seeks to update American companies on the latest developments and opportunities available in Penang, including information on recent advancements in infrastructure and policy changes to facilitate investment,” it said in a statement.

“By enhancing visibility and further promoting Penang as a prime location, the mission also targets potential investors in the electrical and electronics, semiconductor, equipment, medical devices, integrated circuit design, digital global business services, and digital economy industries.”

Chow and his delegation will take part in a series of meetings and site visits to the corporate headquarters of US investors to showcase the state’s strengths, innovations and commitment to being a resilient and sustainable investment location.

Chow said he looks forward to strengthening relationships with US investors.

“We anticipate many positive outcomes from this mission,” he said.

Penang recorded RM71.9 billion in investment inflows in 2023, the highest in Malaysia, driven by foreign direct investments, which accounted for RM61.7 billion or 85.8% of the state’s manufacturing investment inflow.