Story by Chan Lilian
AN industrial roadshow featuring high-tech manufacturing reached Penang’s shores on Dec 11 after touring Indonesia and Vietnam.
Chief Minister Lim Guan Eng, who was invited for the commencement ceremony, said manufacturing, besides tourism, remains a key pillar of Penang’s economy, contributing 48.4% of the state’s gross domestic product (GDP) in 2013.
”Our GDP has witnessed an annual growth of 6% since 2005, growing from RM39.2 billion to RM62.6 billion in 2013. A strong manufacturing base will allow us to diversify our economy and make it more resilient. High-value manufacturing also creates good jobs and opportunities for locals, and stimulates demand for sophisticated services,”he said.
Other guests at the event were Mohd Faizal Hizam, assistant director at MIDA Penang, Muhamad Husni Ya, assistant director from Matrade Penang, Ahmad Shahir Abdul Aziz, Investment Promotion Manager from Invest Perak, Alex Tan, vice-president of Singapore Industrial Automation Association (SIAA) representing IE Singapore and others.
A total of 46 foreign and local participants and more than 1,600 manufacturers and supplier company representatives in business matching meetings and sourcing were at the Industrial Roadshow.
Penang is well positioned to seize and support the growth in high-tech manufacturing
The Life Science industry is a prime example of how companies have recognised Penang’s strong value-proposition for sophisticated manufacturing.
”Today, Penang is home to world-class commercial-scale life science manufacturing facilities. The National Biotechnology Policy sees biotechnology as an enabling tool for advances in agriculture, healthcare and industry,”Lim said.
Companies with BioNexus status from Malaysian Biotechnology Corporation will enjoy tax Incentives for their biotechnology related R&D activities.
”This has made Penang a top choice for setting up a facility as this island has more than 3,000 well developed local suppliers in electronics, automation, packaging, plastics, precision engineering, metal work and software development to support this cause,” he added.