PENANG, Malaysia - Years after resisting pressure to move to China, Lee Hung Lung says his bet has paid off. Sales at his Malaysia-based Hotayi Electronic are surging, it’s hiring more workers, considering an expansion, and picking and choosing orders.
But its two industrial zones have the advantage of a long-established ecosystem of suppliers and customers in one place and cheaper labour than regional rival Singapore. The two zones are connected by a 24 km bridge over the Malacca Strait. “I instead decided to go for more smart, which means more investment on IT, software. Today Hotayi is becoming more, more and more big,” he said. “Because of the trade war, customers are transferring their complete production lines from China.”Foreign direct investments into Penang leaped 11 fold to about $2 billion in the first half of this year - much more than it has attracted in any other full year.
But investments largely stayed flat for more than a decade starting 2005, government data shows, as China lured away companies. Intel opened a factory in the Chinese city of Chengdu the same year, prompting some Malaysian suppliers to move as well.
ہم نے اس خبر کا خلاصہ کیا ہے تاکہ آپ اسے جلدی سے پڑھ سکیں۔ اگر آپ خبر میں دلچسپی رکھتے ہیں تو آپ مکمل متن یہاں پڑھ سکتے ہیں۔ مزید پڑھ:
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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