George Town was, since colonial times, a free port - until its sudden revocation by the Malaysian federal government in 1969. Penang subsequently suffered an economic crisis, with the loss of maritime trade resulting in massive unemployment and brain drain. To alleviate the downturn, the then Chief Minister, Lim Chong Eu, masterminded the construction of the Bayan Lepas Free Industrial Zone. The zone, regarded by many as the "Silicon Valley of the East", proved instrumental in reversing Penang's economic slump and led to the state's rapid economic growth until the late 1990s.