The Penang government is on the lookout for more industrial land to meet the rising demand for such properties following the encouraging take-up in Batu Kawan by investors.
Penang Chief Minister Chow Kon Yeow said the Batu Kawan Industrial Park was a "smashing success" due to the rapid land take-up over the past few years, reported Bernama.
Chow said because of that the state will have to look out for industrial land to meet the demand.
He also said the government at the Federal, state and local levels should provide proper incentives to attract potential investors in order to be outstanding against the neighbouring countries.
"We are considered lucky that Penang is one of the preferred destinations for potential investors, as I believe that they would have put in a lot of land research and consideration on other countries around the world before making their final decision," he said via video conferencing.
Earlier today Chow witnessed Lam Research Corporation Group's virtual roof topping-out ceremony of its new manufacturing facility in Batu Kawan.
The US-based global supplier of innovative wafer fabrication equipment and services to the semiconductor industry is investing close to RM1 billion to build a factory, including offices and a warehouse on a 138ha site.
The new factory will be the group's largest manufacturing facility, among its existing facilities in the US, Austria, South Korea and Taiwan.
Lam Research (Manufacturing) vice president Mike Snell said the company would serve as the manufacturing hub for Asia and that the new site will be an advanced manufacturing facility with the flexibility to expand further when needed.
The new facility is on target to open by the middle of this year.