PENANG continues to be the preferred investment destination for investors to invest and to re-invest.
The latest re-investment by Bosch, a world-leading multinational engineering and electronics company, marked investors’ confidence in doing business in the state.
Chief Minister Chow Kon Yeow said the German investors were the second largest manufacturing foreign direct investment (FDI) contributors in Penang from 2008 to 2017, with a total investment value of RM5.15 billion.
“Penang recorded the highest approved manufacturing FDI among states in country valued at RM8.5 billion last year (2017).
“The domestic manufacturing investment also grew by 92% year-on-year to reach RM2.3 billion last year (2017). Penang’s encouraging records in investments will not be possible without the support by corporations such as Bosch,” Chow said in his speech during the official opening ceremony of Bosch Car Multimedia Plant B112 in Bayan Lepas today.
Chow congratulated Bosch on its landmark growth.
“Bosch Penang has a history of about 45 years, with the opening of its first manufacturing plant in the state in 1972. The plant was producing film cameras and projectors.
“Today, it has grown to three manufacturing and research and development (R&D) facilities in Penang – producing car multimedia systems, power tools and steering systems.
“Penang certainly plays an important role as the global hub for Bosch’s supply chain and overall business,” Chow added.
Bosch Car Multimedia Penang technical managing director Dr Siegfried Skirl welcomed the guests to the new production and office building during his speech.
Robert Bosch Car Multimedia GmbH manufacturing executive vice-president Dr Sven Ost said the new building has a capacity 9,600 sqm production floor space at the ground floor.
“The building also has 4,100 sqm office space for more than 300 associates on the first floor.
“We have reserved an additional space of 4,300 sqm on the second floor for future expansion,” he said.
Robert Bosch GmbH Board of Management member Peter Tyroller said that Robert Bosch’s long-standing commitment and confidence in Malaysia was amplified by its consistent growth in the country.
“In 2017, we invested RM236 million in our operations in Malaysia.
“Our commitment to innovation is reflected in all our products, solutions and facilities. We strive to push our capabilities and competencies to greater heights.
“We also look forward to continuing our relationship and engagement with the local authorities,” he said.
Story by Christopher Tan
Pix by Alissala Thian
Video by Chan Kok Kuan