The Bayan Lepas Industrial Park.
The story of Penang’s industrial parks began in the 1970s, when then-Chief Minister Tun Dr Lim Chong Eu embarked on a journey to develop an export-oriented manufacturing sector and a re-zoning of industries. This gave birth to Penang’s first FTZ (Free Trade Zone) industrial park.
The idea to shift to an export-oriented manufacturing economy by developing industrial parks was, at that time, absolutely visionary. It reflected a deep understanding of industrial developments, trends of economic growth and an accurate needs assessment of what had to be done.
The provision of vast swaths of land plots in specially gazetted areas and tariff exemptions for importing materials and exporting finished goods met the needs of the global offshore movement of production stages to low-wage nations that gave rise to global manufacturing giants.1
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