This is Penang

Industry

Penang state is today the third-largest economy amongst the states of Malaysia, after Selangor and Johor. Manufacturing is the most important component of the Penang economy, contributing 45.9% of the State's GDP (2000). The southern part of the island is highly industrialised with high-tech electronics plants (such as Dell, Intel, AMD, Altera, Motorola, Agilent, Hitachi, Osram, Plexus, Bosch and Seagate) located within the Bayan Lepas Free Industrial Zone. In January 2005, Penang was formally accorded the Multimedia Super Corridor Cyber City status, the first outside of Cyberjaya, with the aim of becoming a high-technology industrial park that conducts cutting-edge research. In recent years, however, the state is experiencing a gradual decline of foreign direct investments due to factors such as cheaper labour costs in China and India.

The entrepôt trade has greatly declined, due in part to the loss of Penang's free-port status, but also due to the active development of Port Klang near the federal capital Kuala Lumpur. However, there is a container terminal in Butterworth which continues to service the northern area.

Other important sectors of Penang's economy include tourism, finance, shipping and other services.

The Penang Development Corporation (PDC) is the state development agency to develop, plan, implement and promote development projects in the form of socio-economic interests on behalf of the State Government of Penang. It functions as the investment arm of the state government.

Agriculture

Penang agriculture is mainly made up of the major export crops of rubber and oil palm and some cocoa, the food commodities comprising paddy, fruits, coconut, vegetables, livestock (which is dominated by poultry and swine), fisheries and aquaculture, and new emerging industries such as ornamental fish and floriculture.
Owing to limited land size and the highly industrialised nature of Penang's economy, agriculture is given little emphasis. In fact, agriculture is the only sector to record negative growth in the state, contributing only 1.3% to the state GDP in 2000. The share of Penang's paddy area to the national paddy area accounts for only 4.9%. 

Banking

Penang was the centre of banking of Malaysia at a time when Kuala Lumpur was still a small outpost. The oldest bank in Malaysia, Standard Chartered Bank (then the Chartered Bank of India, Australia and China) opened its doors in 1875. The Hongkong and Shanghai Banking Corporation, now known as HSBC, opened its first branch in Penang in 1885. The UK-based Royal Bank of Scotland (then ABN AMRO) opened its first office in Penang in 1888 to cater to the financial requirements of the early European traders. Most of the older banks still maintain their local headquarters on Beach Street, the old commercial centre of George Town.

Today, Penang remains a banking hub with branches of Citibank, United Overseas Bank, and Bank Negara Malaysia (the Malaysian central bank) together with local banks such as Public Bank, Maybank, Ambank and CIMB Bank.