Penang among top 10 dynamic industrial clusters in the world

A United Nations agency has identified Penang as one of the 10 dynamic industrial cluster locations in the world to have demonstrated a successful manufacturing experience among developing economies.

The United Nations Industrial Development Organisation's (Unido) Industrial Development Report 2009, rated Penang, along with Buenos Aries, Southeastern Brazil, Phnom Penh, Los Lagos (Chile), Qiaotou (China), Chennai (India), Jakarta, Vientiane and Otigba (Nigeria), as the leading locations, according to Bernama News Agency.

Unido's survey, conducted from 2000 to 2006, disclosed the 10 dynamic industrial locations in developing economies, which created conducive investment environment, generated employment and were able to compete in the international market.

Some of the indicators that placed Penang as a robust location were its excellent basic infrastructure, strong cluster networks between firms and intermediary agencies such as the Penang Development Corportation and the Free Trade Association of Penang.

In addition, compliance with environmental standards, upgrading of production from low level to high value-added activities and the island's open system framework that has enabled movement of human capital were other salient factors, revealed the report.