Penang Forms Task Force to Develop International Financial Centre with White Paper by Q3

Penang has created a Special Task Force Committee to develop the Penang International Financial Centre (PIFC), focused on positioning the state as a tech-finance hub. This initiative aims to enhance Penang’s semiconductor industry, financial services, and attract low-risk investors, boosting economic growth. The task force will prepare a strategic white paper due to the Malaysian Ministry of Finance by Q3 2023, outlining next steps and implementation plans.