The impending closure of Fairchild Semiconductor International Inc’s plant in Penang is expected to be cushioned by interest from potential investors and expansion plans by existing ones. Northern Corridor Implementation Authority (NCIA) chief executive Datuk Redza Rafiq said the Northern Corridor Economic Region (NCER) is seeing encouraging interest from new investors.
- “Some existing companies have approached us about their reinvestment plans. Since some of these deals are under negotiation, NCIA is not at liberty to disclose the details until later,” he told Business Times. Redza said new investments and reinvestments would come from the traditional markets of the United States, Europe and Asia, and the flow of investments is likely to remain in the manufacturing and tourism sectors. (BT)
Source: CIMB Daybreak - 28 August 2014