THE Penang government remains committed to creating more opportunities for young people to build their careers and secure their future in the state.
Chief Minister Chow Kon Yeow acknowledged that economic growth alone was insufficient to address the aspirations and needs of the younger generation, stressing the importance of developing a skilled workforce while retaining local talent.
“Building a skilled workforce takes time, and retaining talent is just as important as attracting investment.
“That is why we are working to create more opportunities for young people to build their careers here,” he said.
Chow was speaking at the opening ceremony of the 5th Penang International Hanwang Forum at the Penang Marriott Hotel in Gurney Drive this morning.
Also present were Penang Local Government and Town & Country Planning Committee chairman Jason H’ng Mooi Lye, Chinese vice-consul general in Penang Ding Qiao, Penang Chinese Town Hall secretary general Datuk Lim Choo Hooi and Hanwang Forum founder and chief adviser Christopher Chuang.
Elaborating on the state’s efforts to strengthen its talent pool, Chow said Penang’s chip design ecosystem had expanded significantly, growing from approximately 25 companies to more than 50.
He said the Penang Chip Design Academy had trained 675 participants, comprising fresh graduates and industry professionals, in critical chip design skills by early September 2026, achieving a job placement rate of 85%.
He added that talent development efforts began at an earlier stage, with the state government collaborating with the Ministry of Economy this year on the Penang STEM Talent Blueprint 2026-2030.
“The blueprint aims to strengthen science, technology, engineering and mathematics (STEM) education while encouraging more young people, particularly those from rural and lower-income communities, to pursue careers in science and technology,” said Chow.
Chow said connectivity and digital adoption were also key components in supporting Penang’s transition towards a more technology-driven economy.
“Through Digital Penang, about 8,646 micro, small and medium enterprises (MSMEs) have benefited from capacity-building programmes.
“By the third quarter of 2026, Penang had recorded 330 startups, generating an estimated RM118 million in revenue and creating approximately 1,720 jobs,” he said.
On efforts to strengthen the state’s technology financing ecosystem, Chow said the state government had submitted a white paper on the proposed Penang Technology Finance Centre (PTFC) to the Ministry of Finance.
He also highlighted a RM150 million strategic investment fund, established through a federal-state partnership involving Khazanah Nasional, InvestPenang and the Selangor government, to support the growth of companies in the semiconductor and advanced manufacturing sectors.
Meanwhile, Chow said reclamation works on Silicon Island had reached 500 acres, representing 40% of the first phase’s total 1,270-acre development.
He said the island was being prepared to accommodate high-value industries, positioning Penang to attract further investments while creating quality employment opportunities for the next generation.
Story by Riadz Akmal
Pix by Muhammad Iqbal Hamdan
Video by Noor Siti Nabilah Noorazis