In the local language, Perak means ‘silver’ – the colour of tin. This is a legacy of the 1890s to 1970s, when Perak was one of the largest tin producers in the world. It was tin mining and its related industries of foundry, machinery and metalworking that laid the foundation of Perak’s industrial profile of today.
Perak is home to some 2.44 million people – a diverse mixture of locals and foreigners alike with Ipoh city as state capital
However, the decline of the global tin industry in the mid 1980s was a blow to Perak’s economy, as Perak was heavily reliant on the tin industry as its major revenue and engine of growth.
To turn around the gloomy economic situation, the Perak State Government began to explore a diversified economic base, identifying the manufacturing industry as a new engine of economic growth along with services and agriculture.
In line with this new direction, new infrastructure necessary for industrial development was built across the state to encourage the development of the manufacturing sector and attract inbound investments. This was also to support Malaysia’s vision of becoming a developed nation by the year 2020.
The Perak State Government actively developed industrial estates in the ‘80s and early ‘90s, initially focusing on areas such as Kinta, Taiping and Manjung, before shifting to other areas such as Parit Buntar and Kuala Kangsar. Logistics infrastructure, such the Lumut Maritime Terminal (LMT), Lekir Bulk Terminal (LBT) and Ipoh Cargo Terminal (ICT), were also developed to improve the transportation and distribution of the manufactured goods to their markets.
As a result of this comprehensive planning, commitment and dedication by the State Government, the manufacturing sector has flourished in Perak over the past three decades. Today, Perak boasts a more diversified industrial portfolio, which includes manufacturing of electrical and electronics products, non-metallic mineral products, shipbuilding, machinery and foundry, automotive and transport equipment as well as oil and gas fabrication industries. Some giant multinational companies (MNCs) have also established their operations in Perak.
Strategic Location and Connectivity
Conveniently located in the north of Peninsular Malaysia, Perak enjoys seamless connectivity with major economic centres in neighbouring states such as Selangor and Penang, as well as key ASEAN markets in Thailand and Indonesia. Travel options include the North-South Expressway, Electric Train Service as well as direct flights from Singapore
Perak possess modern logistical infrastructure in the form of Lumut Maritime Terminal, Lekir Bulk Terminal, Sultan Azlan Shah Airport in Ipoh and Ipoh Cargo Terminal (ICT), Malaysia’s first inland port.
Abundant Natural Resources
Non-metallic minerals make up the largest portion of Perak’s natural bounty. The state is the country’s largest producer of limestone products and mica. Investors are encouraged to take advantage of opportunities in downstream industries in the mining sector
Live. Work. Play
Perak offers a well-balanced working and living environment. The country’s rich culture and natural beauty are on full display in Perak. The state capital Ipoh was selected by Lonely Planet in 2016 as one of the top 10 places to be visited in Asia. The urban areas are well equipped with modern hospitals, shopping malls, golf ranges, international schools and many more, giving both locals and expatriates a high standard of living.