PSDC Celebrates Penang’s Golden Jubilee of Industrialisation

By Ooi Tze Xiong

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One of the state's economic linchpins, the Bayan Lepas Free Industrial Zone. Photo by: Ooi Tze Xiong
IN 1972, PENANG was in economic distress; unemployment rose sharply as its maritime trade floundered. The situation was dismal and so, the tide had to turn…Over the coming decades, the Pearl of the Orient slowly regained its lustre after the new linchpins of the state economy, its free industrial zones at Bayan Lepas and Seberang Perai were established. Penang soon became Malaysia’s top exporter and investment magnet; in 2021, it raked in over 40% of the country’s foreign direct investments1,...

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Ooi Tze Xiong

currently delves into content creation and enjoys piloting drones as a hobby. After years of sojourning in cities across Malaysia and Singapore, he eventually decided to call Penang home.