OVER 300 American Malaysian Chamber of Commerce (AMCHAM) members and key industry stakeholders participated in the dialogue organised by AMCHAM at the E&O Hotel today.
Chief Minister Chow Kon Yeow, who attended the dialogue’s luncheon, highlighted the state’s Environmental, Social and Governance (ESG) agenda which is currently progressing.
“The rising momentum in Penang’s ESG agenda is clear and it can be greatly witnessed through an increasing number of industry players seeking to gain international sustainability accreditation.
“This includes Leadership in Energy and Environmental Design (LEED), Responsible Business Alliance (RBA) and Green Building Index (GBI) certifications and others.
“Penang is also delighted to be at the forefront of this transformation,” Chow said during his speech at the luncheon.
He said InvestPenang has issued a newsletter on ESG recently, featuring over 20 companies that have set an example concerning sustainability in Penang.
“Many of the US companies have demonstrated commitments by adopting the ethical practices of ESG into your businesses and operations, hence serving as an example for others to follow suit.
“While ESG continues to command a growing priority in today’s business environment, the convergence of technologies is predicted to lead the transformation of the industry in the next decades,” he added.
Chow also acknowledged the US as Penang’s significant investor.
“We, in Penang, are most delighted to see the pioneer investors from the US celebrating your 50th anniversary of presence this year.
“On top of the addition of new American companies, the increasing number of existing MNCs via expansion has further deepened your roots here.
“This signifies the country’s continued confidence towards Penang.
“Sustaining a dynamic ecosystem equipped with the capacities and capabilities to support the needs of industrial players’ next-generation technologies and growth strategies is our utmost priority.
“Equally important, we acknowledge that incorporating tripartite Public-Private and People partnership is crucial in paving the way to becoming a high-income economy and creating quality jobs,” Chow said.
During the dialogue session, Chow also urged the MNCs to assist the small and medium enterprises (SMEs) in complying with the ESG.
“The real challenge is on how to collaborate and tap into your strength and help your supply chain partners in the SME sector who might be struggling in terms of the additional cost to comply to ESG.
“I have said this during my conversations with the industry association that if SMEs are unable to comply with the ESG, then they will not be part of the supply chain industry.
“So, that is the challenge for Penang and the rest of the country as we have to work with SMEs to help them comply with the ESG,” he said.
Chow also extended his invitation to AMCHAM participants to the World Congress on Innovation and Technology (WCIT) 2022 which will take place at Setia SPICE from Sept 13 to Sept 15.
“I welcome all of you to join us at this conference. You can reach out to InvestPenang, our state lead agency for the event, to get more information.
“Before I end, I congratulate AMCHAM for successfully organising today’s dialogue.
“Through InvestPenang, the Penang government remains committed to further strengthening our collaboration with AMCHAM in investment promotion efforts,” he said.
AMCHAM chairman Antony Lee thanked Chow for taking part in the dialogue.
“Penang, the Silicon Valley of the East, continues to remain as the key component of US’ business presence in Malaysia.
“Penang has become a catalyst for the industrial growth in Malaysia,” Lee added.
Meanwhile, US ambassador to Malaysia Brian McFeeters urged Malaysia to look into the policy concerning green energy.
Story by Tanushalini Moroter
Pix by Siti Nuratikah Rahmat=