AFLOAT AND AGILE: Its Broad Base Bodes Well for Penang’s Economy

By Tim Niklas Schoepp, Negin Vaghefi

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While manufacturing remains robust, contributions from other sectors are significant.Bayan Lepas Industrial Park.Having an open, export-driven economy means that Penang’s development is directly impacted by world events.Uncertainties like the new US administration, tensions between oil-exporting countries in the Middle East, elections in Europe and a changing Chinese economy, to name just a few, will affect Penang, and not always in predictable ways. Having an open and diversified economy gives it resilience.Global DevelopmentsAccording to the International Monetary Fund’s annual consultation report,...

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Tim Niklas Schoepp

is a visiting analyst in Economics at Penang Institute.

Negin Vaghefi

is a senior analyst at Penang Institute. She holds a Ph.D. in Environmental Economics. Her research interests include agri-environmental economics, climate change, green economics, poverty and income inequality, and policy analysis.