Published on Let's Talk Development

Video blog: Malaysia’s rapidly developing economy

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Penang, Malaysia's "Silicon Valley of the East"

From a small port city to the 'Silicon Valley of the East', Penang has become an important entry point for foreign direct investment into Malaysia and a hub for the country's flourishing electrical and electronics sector. Just a few days ago, I visited Malaysia's oldest free trade zone in Bayan Lepas, Penang, to learn about the industrialization model that catapulted Malaysia from a low income country in the 1970s to an upper-middle income country today. I also spoke about the new World Bank office that will soon be set up in Kuala Lumpur. 


Kaushik Basu

Former Chief Economist & Senior Vice President of the World Bank

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